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

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 given a dividend of 0.2084 per share by the oil and gas exploration company on Thursday, June 27th. The ex-dividend date is Friday, April 26th.

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE PBR traded up $0.02 during trading on Wednesday, hitting $15.67. 14,199,185 shares of the stock traded hands, compared to its average volume of 19,355,514. The firm has a 50-day simple moving average of $16.05 and a 200-day simple moving average of $15.79. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $10.01 and a 12-month high of $17.91. The company has a market capitalization of $102.20 billion, a P/E ratio of 4.10 and a beta of 1.46. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.65.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its quarterly earnings data 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 net margin of 24.30% and a return on equity of 34.44%. The business had revenue of $27.11 billion during the quarter, compared to analyst estimates of $26.45 billion. As a group, analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 3.51 EPS for the current year.

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

Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 83.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,577 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,169 shares during the period. Harbour Investments Inc. bought a new position in Petróleo Brasileiro S.A. – Petrobras during the 1st quarter worth about $29,000. Federated Hermes Inc. increased its position in Petróleo Brasileiro S.A. – Petrobras by 34.3% during 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 purchasing an additional 861 shares during the period. LM Advisors LLC bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at about $60,000. Finally, Salem Investment Counselors Inc. purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 2nd quarter worth approximately $56,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PBR shares. Morgan Stanley cut Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $20.00 to $18.00 in a report on Monday, March 11th. Bank of America cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research report on Friday, March 8th. HSBC upgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Monday, March 25th. Finally, UBS Group upped their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a report on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating and six have issued 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 an average target price 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.