Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Declares Dividend Increase – $0.28 Per Share

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) declared a — dividend on Monday, May 19th, Wall Street Journal reports. Shareholders of record on Wednesday, June 4th will be paid a dividend of 0.2806 per share by the oil and gas exploration company on Wednesday, August 27th. This represents a yield of 17.6%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a 16.8% increase from Petróleo Brasileiro S.A. – Petrobras’s previous — dividend of $0.24.

Petróleo Brasileiro S.A. – Petrobras has raised its dividend payment by an average of 10.8% per year over the last three years.

Petróleo Brasileiro S.A. – Petrobras Trading Up 0.2%

PBR stock opened at $12.04 on Tuesday. The firm has a fifty day moving average price of $12.43 and a 200 day moving average price of $13.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.94. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $15.73. The firm has a market cap of $77.59 billion, a PE ratio of 4.70, a price-to-earnings-growth ratio of 0.18 and a beta of 0.87.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Petróleo Brasileiro S.A. – Petrobras stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 55.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,852 shares of the oil and gas exploration company’s stock after acquiring an additional 11,680 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $471,000 at the end of the most recent reporting period.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PBR shares. Hsbc Global Res raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. StockNews.com upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Jefferies Financial Group raised shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.30 target price on the stock in a research note on Thursday, May 15th. Finally, HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Petróleo Brasileiro S.A. – Petrobras currently has an average rating of “Buy” and a consensus target price of $17.47.

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.