Extremely high yield and low P/E of a Brazilian oil giant? What's going on here? And is it even sustainable?
I wrote about this company here fairly recently in connection with its high dividend. But it's been much discussed by investors and a lot has happened, so we'll take another look at it. First, a quick introduction.
You can read the last article here: Petroleo Brasileiro - 33% EXTREME dividend and great valuation, or dividend trap?
Petroleo Brasileiro S.A., $PBR known as Petrobras, is a Brazilian state-owned company that operates in the energy sector, primarily in the extraction, processing and distribution of oil and gas. Petrobras was founded in 1953 by the Brazilian government with the aim of securing the country's energy independence by developing domestic oil and gas production. Since its founding, the company has grown to become one of the largest players in the global energy industry.
Petrobras is one of the largest oil…