Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) announced its quarterly earnings data on Monday. The oil and gas exploration company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09), Zacks reports. The business had revenue of $23.77 billion during the quarter, compared to analysts’ expectations of $24.63 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 24.30% and a return on equity of 34.44%. During the same period in the prior year, the firm posted $1.11 EPS.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of Petróleo Brasileiro S.A. – Petrobras stock traded down $1.20 on Wednesday, hitting $15.49. 54,247,910 shares of the company’s stock traded hands, compared to its average volume of 19,630,375. Petróleo Brasileiro S.A. – Petrobras has a 52-week low of $11.47 and a 52-week high of $17.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.96. The firm’s 50-day moving average is $15.90 and its 200 day moving average is $16.01.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.3406 per share. The ex-dividend date is Friday, May 3rd. This represents a yield of 16.25%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is presently 21.73%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Morgan Stanley downgraded Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $20.00 to $18.00 in a research note on Monday, March 11th. Jefferies Financial Group downgraded shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $21.20 to $17.70 in a report on Wednesday. UBS Group raised their price objective on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a research note on Monday, March 25th. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Monday, March 25th. Finally, Bank of America downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a research note on Friday, March 8th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.33.

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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.