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

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) announced 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 boost 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% per year over the last three years.

Petróleo Brasileiro S.A. – Petrobras Trading Up 0.8 %

Shares of PBR traded up $0.10 during trading hours on Wednesday, hitting $13.03. The stock had a trading volume of 5,292,318 shares, compared to its average volume of 17,477,982. The company’s fifty day simple moving average is $13.86 and its 200 day simple moving average is $14.36. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $12.77 and a 12-month high of $17.91. 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 firm 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.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PBR. HSBC lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted 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 note on Tuesday, November 12th. JPMorgan Chase & Co. raised shares of Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and raised their target price for the company from $16.50 to $19.00 in a research note on Wednesday, September 25th. Finally, Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.