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

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) announced a — dividend on Monday, May 19th, Wall Street Journal reports. Investors of record on Wednesday, June 4th will be given a dividend of 0.2806 per share by the oil and gas exploration company on Wednesday, August 27th. This represents a dividend 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 increased its dividend by an average of 10.8% annually over the last three years.

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

NYSE PBR traded up $0.02 during mid-day trading on Monday, hitting $12.04. The company’s stock had a trading volume of 13,274,561 shares, compared to its average volume of 17,416,276. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $11.03 and a 52-week high of $15.73. The stock’s fifty day simple moving average is $12.45 and its two-hundred day simple moving average is $13.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71. The firm has a market capitalization of $77.59 billion, a P/E ratio of 4.70, a price-to-earnings-growth ratio of 0.18 and a beta of 0.87.

Analyst Upgrades and Downgrades

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

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

An institutional investor recently raised its position in Petróleo Brasileiro S.A. – Petrobras stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 55.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the 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 as of its most recent filing with the SEC.

Petróleo Brasileiro S.A. – Petrobras Company Profile

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.