Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Key Points

• Petrobras reported quarterly earnings of $0.64 EPS, missing expectations by $0.06, while generating a revenue of $21.04 billion, exceeding analysts' predictions of $20.78 billion.
• The company's stock declined by 7.3% to $12.13 following the earnings announcement, with a trading volume significantly higher than average.
• Petrobras announced a dividend increase to $0.2806 from $0.24, resulting in a remarkable dividend yield of 1,760.0%.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) announced its quarterly earnings data on Friday. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.06), Zacks reports. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.98% and a net margin of 9.83%. The business had revenue of $21.04 billion during the quarter, compared to analysts' expectations of $20.78 billion.

Petroleo Brasileiro S.A.- Petrobras Trading Down 7.3%

Shares of NYSE PBR traded down $0.95 during midday trading on Friday, hitting $12.13. The stock had a trading volume of 61,605,746 shares, compared to its average volume of 21,433,688. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $15.73. The company's 50-day simple moving average is $12.49 and its 200 day simple moving average is $12.76. The firm has a market cap of $78.17 billion, a P/E ratio of 9.05 and a beta of 0.85.

Petroleo Brasileiro S.A.- Petrobras Increases Dividend

The company also recently announced a -- dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, June 4th will be paid a $0.2806 dividend. This is an increase from Petroleo Brasileiro S.A.- Petrobras's previous -- dividend of $0.24. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a dividend yield of 1,760.0%. Petroleo Brasileiro S.A.- Petrobras's payout ratio is 73.88%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Petroleo Brasileiro S.A.- Petrobras stock. Focus Partners Wealth lifted its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,631 shares of the oil and gas exploration company's stock after acquiring an additional 1,356 shares during the quarter. Focus Partners Wealth's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $296,000 as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PBR shares. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective on the stock in a report on Thursday, May 15th. Finally, Bank of America downgraded Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $17.40.

About Petroleo 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.

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