Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) to Issue Dividend Increase – $0.23 Per Share

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) declared a Variable dividend on Friday, November 8th,Zacks Dividends reports. Shareholders of record on Friday, December 27th will be paid a dividend of 0.227 per share by the oil and gas exploration company on Thursday, March 27th. This represents a yield of 16.3%. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17.

Petróleo Brasileiro S.A. – Petrobras has raised its dividend payment by an average of 46.8% annually over the last three years.

Petróleo Brasileiro S.A. – Petrobras Trading Up 0.8 %

Shares of PBR stock opened at $13.03 on Wednesday. The stock’s fifty day moving average is $13.86 and its two-hundred day moving average is $14.36. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. The firm has a market capitalization of $84.98 billion, a P/E ratio of 5.09, a PEG ratio of 0.22 and a beta of 1.41. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.77 and a fifty-two week high of $17.91.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. The Goldman Sachs Group raised their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Hsbc Global Res lowered Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. HSBC lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $16.50 to $19.00 in a report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has an average rating of “Moderate Buy” and a consensus target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.