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

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) declared a Variable dividend on Friday, November 8th,Zacks Dividends reports. Stockholders 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 dividend yield of 16.3%. The ex-dividend date is Friday, December 27th. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17.

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

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR traded up $0.10 on Wednesday, reaching $13.03. The company had a trading volume of 5,292,318 shares, compared to its average volume of 17,477,982. The stock has a market cap of $84.98 billion, a P/E ratio of 5.09, a P/E/G ratio of 0.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $12.77 and a fifty-two week high of $17.91. The company’s fifty day moving average is $13.86 and its 200 day moving average is $14.36.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. HSBC downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Hsbc Global Res downgraded Petróleo Brasileiro S.A. – Petrobras from a “strong-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 increased their target price for the company from $16.50 to $19.00 in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus 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.