On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 2.2% at $45.91 a barrel.
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Petroleo Brasileiro Petrobras SA (NYSE:PBR) last released its earnings results on Friday, August 7th. (NASDAQ:CVLY) reported that A. Dwight Utz has joined the Firm as Executive Vice President and Chief Operating Officer of both entities.
“Consensus for tomorrow’s EIA inventory report is for a draw in crude, builds in distillates and gasoline inventories”, said Michael Poulsen, oil analyst at Global Risk Management. It expects the prevalent volatility in the crude market to continue in the foreseeable future.
However, oil prices couldn’t sustain their gains as positive stockpile data was overshadowed by ongoing concerns about China’s economic health, Reuters added.
Petroleo Brasileiro S.A. – Petrobras (NYSE:PBR) has a payout ratio of 76.80% and a volume of 6,689,107. The company’s Annual EPS growth past 5 years is -18.40%. The company has reduced its capital expenditure target for the future and is now in pursuit of more cost-saving measures to position itself better in the current oil market situation. As took noticed on the firm performance, its weekly performance was -6.47%, monthly performance was -22.78%. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The trading volume at ready counter moved to 8.53 million shares as compared to 11.63 million shares average traded volume. The total amount spent on such repurchases was about $13.7 million, which was part of the $50.0 million authorization from the Firm’s Board Of Directors in February 2015 for repurchases of Ordinary Stock in 2015.
Encana Corporation (USA) (NYSE:ECA) opened last trading session at $7.02 and the stock hit $6.88 intra-day low level. The company maintains a gross margin of 54.10% and a net profit margin of -4.50%. Research Analysts at Zacks have ranked the company at 3, suggesting the traders with a rating of hold for the short term.
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Antero Resources Corp (NYSE:AR) fell -1.57% or -0.37 points on Monday and finished at $23.19. Essentially what it means is for every share you own in you are getting 10 per cent which may not seem like a lot but with proper trading and investing these numbers become quite high.
