Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Plans $0.71 Variable Dividend

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR – Get Rating) declared a Variable dividend on Friday, May 13th, Zacks reports. Stockholders of record on Wednesday, May 25th will be given a dividend of 0.709 per share by the oil and gas exploration company on Monday, June 27th. The ex-dividend date of this dividend is Tuesday, May 24th.

Petróleo Brasileiro S.A. – Petrobras has a payout ratio of 3.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Petróleo Brasileiro S.A. – Petrobras to earn $3.82 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 2.9%.

NYSE:PBR opened at $15.42 on Friday. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $9.20 and a fifty-two week high of $16.09. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.16. The stock has a market capitalization of $100.57 billion, a PE ratio of 3.55, a price-to-earnings-growth ratio of 1.39 and a beta of 1.44. The business’s 50-day simple moving average is $14.31 and its 200-day simple moving average is $12.83.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR – Get Rating) last released its earnings results on Thursday, May 5th. The oil and gas exploration company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.08 by $0.21. The firm had revenue of $27.19 billion for the quarter, compared to analysts’ expectations of $27.95 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 31.27% and a net margin of 29.65%. On average, research analysts expect that Petróleo Brasileiro S.A. – Petrobras will post 4.45 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 2.8% during the 1st quarter. Lazard Asset Management LLC now owns 30,293,524 shares of the oil and gas exploration company’s stock worth $448,343,000 after acquiring an additional 826,668 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 401.6% during the 1st quarter. Wellington Management Group LLP now owns 2,003,489 shares of the oil and gas exploration company’s stock worth $29,651,000 after acquiring an additional 1,604,064 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth approximately $11,529,000. United Capital Financial Advisers LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth approximately $9,198,000. Finally, Thomas White International Ltd. increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 34,480.9% during the 1st quarter. Thomas White International Ltd. now owns 390,418 shares of the oil and gas exploration company’s stock worth $5,778,000 after acquiring an additional 389,289 shares during the last quarter. Institutional investors own 11.89% of the company’s stock.

Several equities research analysts have commented on the company. Zacks Investment Research upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research note on Thursday, March 10th. Bank of America cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 8th. Finally, StockNews.com cut Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 13th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $14.20.

Petróleo Brasileiro S.A. – Petrobras Company Profile (Get Rating)

Petróleo Brasileiro SA – Petrobras explores for, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; Gas and Power; and Corporate and Other Businesses segments. It 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.

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