Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Announces Variable Dividend of $0.23

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) declared a Variable dividend on Friday, November 8th,Zacks Dividends reports. Investors of record on Friday, December 27th will be given 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 positive change 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 Price Performance

PBR stock opened at $13.03 on Wednesday. The business’s 50-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 current ratio of 0.94 and a quick ratio of 0.71. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.77 and a 1 year high of $17.91. The firm has a market capitalization 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.

Analyst Upgrades and Downgrades

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