Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Declares Special Dividend of $0.12

Key Points

• Special dividend of $0.1191 per share declared for Petrobras, payable May 28 to investors of record on April 24 (ex-dividend date April 24).
• Dividend appears well-covered: Petrobras has a historical payout ratio of 13.1%, raised dividends only modestly (about 0.3% per year over three years), and analysts forecast $3.80 EPS next year implying an expected future payout ratio of about 8.4% versus a $0.32 annual dividend.
• Recent performance and valuation: market capitalization of $136.44 billion and a PE of 6.96, with last-quarter EPS of $0.45, net margin of 22.01% and return on equity of 24.26%.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) announced a special dividend on Friday, March 6th. Investors of record on Friday, April 24th will be given a dividend of 0.1191 per share by the oil and gas exploration company on Thursday, May 28th. The ex-dividend date is Friday, April 24th.

Petroleo Brasileiro S.A.- Petrobras has raised its dividend payment by an average of 0.3%per year over the last three years. Petroleo Brasileiro S.A.- Petrobras has a payout ratio of 13.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Petroleo Brasileiro S.A.- Petrobras to earn $3.80 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 8.4%.

Petroleo Brasileiro S.A.- Petrobras Price Performance

PBR opened at $21.17 on Wednesday. The company's 50 day simple moving average is $18.69 and its 200 day simple moving average is $14.76. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.48 and a current ratio of 0.71. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $22.05. The stock has a market capitalization of $136.44 billion, a PE ratio of 6.96, a P/E/G ratio of 0.86 and a beta of 0.37.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last released its earnings results on Sunday, February 15th. The oil and gas exploration company reported $0.45 earnings per share (EPS) for the quarter. Petroleo Brasileiro S.A.- Petrobras had a net margin of 22.01% and a return on equity of 24.26%. The business had revenue of $23.61 billion for the quarter. As a group, sell-side analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 3.64 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Poehling Capital Management INC. raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 0.8% during the first quarter. Poehling Capital Management INC. now owns 240,944 shares of the oil and gas exploration company's stock valued at $5,000,000 after purchasing an additional 1,898 shares during the period. Drum Hill Capital LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 0.5% during the first quarter. Drum Hill Capital LLC now owns 132,360 shares of the oil and gas exploration company's stock valued at $2,746,000 after purchasing an additional 714 shares during the period. Aaron Wealth Advisors LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter worth $380,000. Contravisory Investment Management Inc. bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter worth $371,000. Finally, Ritholtz Wealth Management increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 10.4% in the first quarter. Ritholtz Wealth Management now owns 203,059 shares of the oil and gas exploration company's stock worth $4,213,000 after buying an additional 19,168 shares during the last quarter.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.