Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Raises Dividend to $0.23 Per Share

Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR - Get Free Report) declared a Variable dividend on Friday, November 8th,Zacks Dividends reports. Shareholders of record on Friday, December 27th will be given 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 an increase from Petróleo Brasileiro S.A. - Petrobras's previous Variable dividend of $0.17.

Petróleo Brasileiro S.A. - Petrobras has increased its dividend payment by an average of 46.8% per year over the last three years.

Petróleo Brasileiro S.A. - Petrobras Stock Up 0.8 %

NYSE:PBR traded up $0.10 during trading hours on Wednesday, reaching $13.03. The company had a trading volume of 5,292,318 shares, compared to its average volume of 17,477,982. Petróleo Brasileiro S.A. - Petrobras has a twelve month low of $12.77 and a twelve month high of $17.91. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The firm has a market cap of $84.98 billion, a price-to-earnings ratio of 5.09, a P/E/G ratio of 0.22 and a beta of 1.41. The business's 50-day simple moving average is $13.86 and its two-hundred day simple moving average is $14.36.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PBR. HSBC lowered Petróleo Brasileiro S.A. - Petrobras from a "buy" rating to a "hold" rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised Petróleo Brasileiro S.A. - Petrobras from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $16.50 to $19.00 in a research report on Wednesday, September 25th. The Goldman Sachs Group lifted their price target on shares of Petróleo Brasileiro S.A. - Petrobras from $15.40 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Finally, Hsbc Global Res downgraded shares of Petróleo Brasileiro S.A. - Petrobras from a "strong-buy" rating to a "hold" rating in a 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.com, Petróleo Brasileiro S.A. - Petrobras currently has an average rating of "Moderate Buy" and a consensus price target of $18.24.

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.