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

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) announced a quarterly dividend on Tuesday, April 16th, NASDAQ reports. Investors 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 yield of 4.92%. The ex-dividend date is Friday, April 26th.

Petróleo Brasileiro S.A. – Petrobras has a dividend payout ratio of 26.2% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 0.1 %

Petróleo Brasileiro S.A. – Petrobras stock opened at $16.95 on Wednesday. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $10.01 and a 12-month high of $17.91. The company has a 50-day moving average price of $15.96 and a 200 day moving average price of $15.87. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.96.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PBR shares. UBS Group increased their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a research note on Monday, March 25th. Morgan Stanley lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $20.00 to $18.00 in a research note on Monday, March 11th. HSBC raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Monday, March 25th. Finally, Bank of America lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.