Petroleo Brasileiro Sa shares have dropped -47.57% in the past 200 days, while the S&P 500 has declined -7.43% for the same time. At present, the stock’s average 12-month price target of $ 11.05 stands at a 10.15 % premium to the 52-week low. As concerns of stock price volatility, it was 1.87% for a week and 1.83% for a month. In comparing the stock’s current level to its extended history, the stock is trading -78.203% away from its 52-week high of 17.640 and +1.989% away from the stock’s low point over the past 52 weeks, which was 3.770. Barclays decreased their price objective on Petroleo Brasileiro Petrobras SA from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th.
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Petroleo Brasileiro Petrobras SA (NYSE:PBR) shares shot up 6.9% during mid-day trading on Wednesday, AnalystRatings.NET reports.
Investors saw it as welcome news for the heavily-indebted company, which has struggled this year with the fallout from a massive corruption investigation.
Overnight, Brazil’s state-run oil company Petroleo Brasileiro SA said it will raise gasoline prices by 6% and diesel prices by 4% at its refineries with immediate effect. The analyst views these assumptions as outdated and heavily dependent on the company’s ability to implement the strategy of divestment and restructuring, of $58 billion in assets. During last 3 month period, 13.9% of total institutional ownership has changed in the company shares.
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Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) said its chairman has taken a temporary leave of absence, raising questions about possible boardroom turmoil as the troubled firm grapples with a huge debt burden and multibillion-dollar corruption investigation. The oil and gas exploration company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.23 by $0.20. The Company operates in the Exploration and Production (E&P); Refining, Transportation and Marketing (RTM); Gas and Power; Biofuels; Distribution, and global segments. Directly or through its subsidiaries, Petrobras is engaged in the research, extraction, refining, processing, trade and transport of oil from wells, shale and other rocks, its derivatives, natural gas and other liquid hydrocarbons, as well as in activities related to energy, development, production, transport, distribution and commercialization of energy. Biofuels section covers the actions of production of biodiesel and its own co-products, together with the ethanol-associated tasks. The worldwide segment contains its activities in the Americas, Asia, Europe and Africa.
