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

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) declared a dividend on Tuesday, April 16th, NASDAQ reports. Investors of record on Monday, April 29th will be paid a dividend of 0.2084 per share by the oil and gas exploration company on Thursday, June 27th. The ex-dividend date of this dividend is Friday, April 26th.

Petróleo Brasileiro S.A. – Petrobras Stock Up 0.1 %

NYSE PBR traded up $0.02 during trading hours on Wednesday, hitting $15.67. 14,199,185 shares of the company traded hands, compared to its average volume of 19,355,514. The business’s 50-day moving average is $16.05 and its 200-day moving average is $15.79. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $10.01 and a twelve month high of $17.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.96. The stock has a market capitalization of $102.20 billion, a price-to-earnings ratio of 4.10 and a beta of 1.46.

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

Hedge Funds Weigh In On Petróleo Brasileiro S.A. – Petrobras

Large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 83.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,577 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 1,169 shares in the last quarter. Harbour Investments Inc. acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the 1st quarter valued at $29,000. Federated Hermes Inc. raised its holdings in Petróleo Brasileiro S.A. – Petrobras by 34.3% in the 1st quarter. Federated Hermes Inc. now owns 3,368 shares of the oil and gas exploration company’s stock valued at $50,000 after acquiring an additional 861 shares in the last quarter. LM Advisors LLC acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at $60,000. Finally, Salem Investment Counselors Inc. acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter valued at $56,000.

Analysts Set New Price Targets

PBR has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a research report on Monday, March 25th. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Monday, March 25th. Bank of America cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Friday, March 8th. Finally, Morgan Stanley cut Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $18.00 in a research report on Monday, March 11th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras presently has a consensus rating of “Moderate Buy” and a consensus price target 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.