Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Declares Special Dividend of $0.19

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) announced a special dividend on Friday, August 7th. Shareholders of record on Tuesday, August 25th will be given a dividend of 0.1853 per share by the oil and gas exploration company on Tuesday, December 29th. The ex-dividend date is Tuesday, August 25th.

Petroleo Brasileiro S.A.- Petrobras has increased its dividend by an average of 0.3%annually over the last three years. Petroleo Brasileiro S.A.- Petrobras has a dividend payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Petroleo Brasileiro S.A.- Petrobras to earn $3.53 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 12.2%.

Petroleo Brasileiro S.A.- Petrobras Trading Up 0.6%

Shares of NYSE PBR opened at $19.13 on Friday. The firm has a 50 day moving average price of $17.69 and a two-hundred day moving average price of $18.44. The stock has a market cap of $123.28 billion, a P/E ratio of 4.83, a price-to-earnings-growth ratio of 0.78 and a beta of 0.33. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.43 and a 52-week high of $22.24. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PBR shares. JPMorgan Chase & Co. lowered their target price on Petroleo Brasileiro S.A.- Petrobras from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, August 7th. Finally, Zacks Research cut Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.28.

Petroleo Brasileiro S.A.- Petrobras Company Profile

Petro?leo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.