Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) to Issue $0.21 Quarterly Dividend

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) declared a quarterly dividend on Tuesday, April 16th, NASDAQ reports. Shareholders of record on Monday, April 29th will be given a dividend of 0.2084 per share by the oil and gas exploration company on Thursday, June 27th. This represents a $0.83 annualized dividend and a dividend yield of 4.96%. The ex-dividend date is Friday, April 26th.

Petróleo Brasileiro S.A. – Petrobras has a payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Petróleo Brasileiro S.A. – Petrobras to earn $3.11 per share next year, which means the company should continue to be able to cover its $0.83 annual dividend with an expected future payout ratio of 26.7%.

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE:PBR opened at $16.82 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 12 month low of $10.01 and a 12 month high of $17.91. The business’s 50-day moving average is $15.96 and its 200 day moving average is $15.87.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.15. The firm had revenue of $27.11 billion during the quarter, compared to analyst estimates of $26.45 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 24.30% and a return on equity of 34.44%. On average, research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 3.51 EPS for the current fiscal year.

Analyst Ratings Changes

PBR has been the topic of several analyst reports. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Monday, March 25th. UBS Group raised their price target on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research report on Monday, March 25th. Morgan Stanley cut shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $18.00 in a research report on Monday, March 11th. Finally, Bank of America downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Friday, March 8th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.76.

About Petróleo Brasileiro S.A. – Petrobras

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.