Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Announces 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 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 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 Stock Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock opened at $13.03 on Wednesday. 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 business’s 50 day moving average price is $13.86 and its 200 day moving average price is $14.36. The company has a market cap of $84.98 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 0.22 and a beta of 1.41. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.77 and a one year high of $17.91.

Analysts Set New Price Targets

PBR has been the topic of a number of analyst reports. Hsbc Global Res downgraded 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 upped their price target on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised 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 research report on Wednesday, September 25th. Finally, HSBC cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.24.

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 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.