PBR - Petróleo Brasileiro S.A. - Petrobras

NYSE - NYSE Delayed price. Currency in USD
16.49
-0.34 (-2.02%)
At close: 4:02PM EDT
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Previous close16.83
Open16.81
Bid15.41 x 800
Ask16.95 x 21500
Day's range16.47 - 16.88
52-week range10.16 - 17.90
Volume12,188,334
Avg. volume15,389,564
Market cap102.944B
Beta (3Y monthly)0.34
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield0.20 (1.21%)
Ex-dividend date2019-05-22
1y target est19.60
Trade prices are not sourced from all markets
  • Brazil's High-Flying Stocks May Gain Altitude as Rates Decline
    Bloombergyesterday

    Brazil's High-Flying Stocks May Gain Altitude as Rates Decline

    (Bloomberg) -- Brazilian stocks have extended their year-to-date gain to about 20% on renewed optimism that Latin America’s largest economy will finally overhaul its heavily indebted social security system. But the rally that has pushed the market to record highs still may have some juice left.The benchmark Ibovespa index may climb 11% from current levels to about 115,000 by the end of 2019, according to the average forecast of 10 strategists surveyed by Bloomberg. Their targets range from 105,000 to 123,000, implying an increase of as much as 18%. That would mark the fourth year of double-digit gains for Brazilian stocks.Reforming pensions should allow Brazil’s central bank to reduce the benchmark interest rate below the current, historically low 6.5%, pushing more funds into the local stock market, strategists say. While the domestic swap rates curve is pricing in an easing cycle of 108 basis point until the end of the year, some of the nation’s fund managers and economists see room for the Selic rate to reach 5%.“A strong fiscal anchor will likely open room for deeper interest rate cuts,” Bradesco BBI analysts led by Andre Carvalho wrote in a July 10 report, raising their target for the Ibovespa to 122,000 from 116,000. “Low interest rates should help boost the capital markets and M&A activities, as well as reduce financial expenses and increase the attractiveness of bond-like stocks,” Carvalho said.Bank of America has reiterated its overweight rating for Brazilian stocks in its Latin American portfolio, seeing the Ibovespa at 120,000 in the end of this year. “Flows into equities should keep supporting the market,” BofA’s Latin America equity strategist David Beker wrote in a note.Passing pension reform is also expected to unlock a long-awaited rebound in Brazil’s economy. Since the beginning of the year, economists have been lowering their estimates for gross domestic product in 2019, as doubts about the country’s fiscal outlook have kept investments on hold.Here’s a list of strategists’ top picks in Brazil:Bradesco BBIBanco do Brasil SA, Itau Unibanco Holding SA, B3 SA, CVC Brasil Operadora e Agencia de Viagens SA, Lojas Renner SA, Energisa SA, Cia de Saneamento Basico do Estado de Sao Paulo, Vale SA, Gerdau SA and Petroleo Brasileiro SABTG PactualPetroleo Brasileiro SA, Localiza Rent a Car SA, Banco Bradesco SA, Lojas Renner SA, Rumo SA, Cosan SA, Oi SA, Ambev SA, JBS S and Totvs SAItau BBABanco do Brasil SA, Banco Bradesco SA, Cyrela Brazil Realty SA, Cia de Saneamento de Minas Gerais, Kroton Educacional SA, Rumo SA, Petroleo Brasileiro SA, Multiplan Empreendimentos Imobiliarios SA, Vale SA and Azul SAJPMorganBanco Bradesco SA, IRB Brasil Resseguros, Cia Brasileira de Distribuicao, Vale SA, Petroleo Brasileiro SA, Rumo SA, Randon SA and Cyrela Brazil Realty SASafraItau Unibanco Holding SA, Banco Bradesco SA, Banco do Estado do Rio Grande do Sul SA, Banco do Brasil SA, B3 SA, Cia Brasileira de Distribuicao, Localiza Rent a Car SA, Vale SA, Bradespar SA, Cia Siderurgica Nacional SA, Petrobras Distribuidora SA, Telefonica Brasil SA, Rumo SA, Energisa SA and EZ Tec Empreendimentos e Participacoes SATo contact the reporter on this story: Vinícius Andrade in São Paulo at vandrade3@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Scott Schnipper, Richard RichtmyerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Exclusive: Petrobras eyes exit from Brazil bourse's good governance program - sources
    Reuters4 days ago

    Exclusive: Petrobras eyes exit from Brazil bourse's good governance program - sources

    Brazilian state-run oil firm Petrobras is considering an end to its participation in a program certifying good governance and limited political interference in state companies set up by the Sao Paulo stock exchange, two sources told Reuters. Chief Executive Roberto Castello Branco is pushing the possibility of exiting the Distinction in Governance Program for State-Run Firms, established by exchange operator B3 SA, said the people familiar with deliberations, who requested anonymity to discuss confidential matters. Petrobras added that improvements to its compliance protocols have "stood out" in recent years and that many requirements of the B3 program are already part of Brazilian law, so leaving the program would not necessarily weaken the company's corporate governance.

  • Will Shell’s Q2 Earnings Outperform Peers?
    Market Realist4 days ago

    Will Shell’s Q2 Earnings Outperform Peers?

    Shell’s Q2 earnings are expected to rise year-over-year.

  • Shell Stock, WTI, and SPY Ahead of Q2 Earnings
    Market Realist4 days ago

    Shell Stock, WTI, and SPY Ahead of Q2 Earnings

    Royal Dutch Shell (RDS.A) is scheduled to announce its second-quarter results on August 1. Since June 10, Shell stock has risen.

  • Bloomberg7 days ago

    Century Bonds Having a Moment as JPMorgan, Pictet Load Up

    (Bloomberg) -- Century bonds are having a moment.Investors scored an average return of 19% this year on 100-year debt from the three most prominent issuers: Argentina, Mexico and state-controlled Petroleo Brasileiro SA. That’s almost double the gain for the benchmark emerging-market debt index.A dovish turn by central banks around the world has pushed yields down globally, prompting firms such as JPMorgan Asset Management, Grantham Mayo Van Otterloo & Co. and Pictet Asset Management Ltd. to seek longer-dated debt with higher payouts. The century bonds also offer higher duration, meaning they’re likely to outperform as rates fall. Worldwide, negative-yielding debt now stands at a record $13 trillion.“There’s been a scramble for any bond with some spread -- the longer, the better,” said Guido Chamorro, a senior investment manager at Pictet in London, who’s overweight Mexico century bonds. His emerging-market debt fund has topped 75% of peers this year, according to data compiled by Bloomberg.“We wish more sovereigns had century bonds,” said Chamorro, who favors long-dated investment grade debt. Mexico’s 100-year securities look “very attractive” compared with 30-year notes from the sovereign or state oil firm Pemex, he said. Chamorro says he’s market-weight on Argentina’s century bonds, citing the lack of yield premium to shorter-dated debt. He doesn’t have exposure to the Petrobras notes.Granted, century bonds by their very nature are among the riskiest debt securities in the world. They would “get slaughtered” if the Fed shocks markets by not lowering borrowing costs at the end of July, according to Hari Hariharan, chief executive officer of New York-based NWI Management LP. He still favors Petrobras’s 100-year debt on the possibility of bond buybacks.Tina Vandersteel, a money manager at GMO in Boston, said she prefers Mexico’s 100-year securities over Argentina’s for the same reason as Chamorro. Assuming global monetary easing isn’t fully priced in, century bonds could stand to benefit more, she said.Zsolt Papp, a London-based money manager at JPMorgan Asset Management, said even though Argentina’s yield curve is inverted, the nation’s 100-year notes could outperform on the prospect of President Mauricio Macri’s re-election. The bonds slid as low as 66 cents on the dollar in May amid a selloff in Argentine assets before rebounding. Papp said longer-duration debt will benefit from a Fed cut this month and monetary easing measures by the European Central Bank.“The Fed will likely remain accommodative,” he said. “That’s good for EM and century bonds.”(Adds that Argentine bonds slid in May in eighth paragraph.)To contact the reporter on this story: Ben Bartenstein in New York at bbartenstei3@bloomberg.netTo contact the editors responsible for this story: Julia Leite at jleite3@bloomberg.net, Alec D.B. McCabe, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Dozens arrested in Rio for murder, extortion of Petrobras contractors
    Reuters12 days ago

    Dozens arrested in Rio for murder, extortion of Petrobras contractors

    Police in Rio de Janeiro arrested more than 40 people on Thursday for their alleged roles in a murderous gang that extorted companies working for state-run oil company Petrobras and established a secret cemetery to dispose of rivals. The arrests highlight how South America's third largest city and suburbs have struggled with the growing power of so-called militias — criminal groups run by retired and off-duty police officers dominating distribution of utilities and basic goods for millions of residents. The operation also underscores the threat of organized crime to Brazil's fast-growing oil and gas sector.

  • Is Petrobras Stock the "Best Story" in Big Oil?
    Motley Fool13 days ago

    Is Petrobras Stock the "Best Story" in Big Oil?

    Merrill Lynch thinks it just might be. Let's find out if the analyst's right.

  • Oil & Gas Stock Roundup: Shell's Canada Asset Sale, Marathon Oil's UK Exit & More
    Zacks14 days ago

    Oil & Gas Stock Roundup: Shell's Canada Asset Sale, Marathon Oil's UK Exit & More

    Royal Dutch Shell (RDS.A) agreed to sell gas assets in Alberta for C$190 million, while Marathon Oil (MRO) closed the divestment of its North Sea assets.

  • Petrobras (PBR) to Divest Refinery Assets to Trim Leverage
    Zacks15 days ago

    Petrobras (PBR) to Divest Refinery Assets to Trim Leverage

    Petrobras' (PBR) CEO believes that the divestment of eight refineries could fetch the company as much as $15 billion.

  • Brazil Bets Storing Oil Near Teapots Will Boost China Sales
    Bloomberg18 days ago

    Brazil Bets Storing Oil Near Teapots Will Boost China Sales

    (Bloomberg) -- Brazil is making it easier for China’s teapots to buy Lula crude as it seeks to win more market share in the world’s biggest oil importer.State-controlled Petroleo Brasileiro SA has rented offshore tanks in Qingdao in the eastern province of Shandong and delivered the first oil to them on Wednesday, Qingdao Port International said in a statement. Having local storage allows Petrobras to sell smaller volumes to the independent refineries, known as teapots, many of which are clustered in Shandong.Brazil’s crude exports to China have risen over the past few years and it’s vying with Iraq and Angola to be the third-biggest supplier after Russia and Saudi Arabia. U.S. sanctions on Iran and Venezuela and production curbs by the Organization of the Petroleum Exporting Countries and its allies are providing the South American country, which isn’t an OPEC member, with an opening.The Shandong storage “will provide a larger platform for Brazilian oil and promote its sales,” Petrobras director Anelise Lara said in the Qingdao Port statement. The company is seeking to “offer more flexible ways” for Chinese buyers to purchase its crude, she said.China’s teapots processed around a third of the country’s oil imports last year. They’ve been leading a surge in purchases from Brazil in 2019 as strong profits from turning the country’s viscous, low-sulfur crude into diesel boosted buying interest. The relatively higher cost of similar-quality oil from other countries prompted the teapots to snap up supplies from the Latin American nation. The Lula grade dominates Brazilian exports to China.The Petrobras move is being driven by the requirements of the Chinese teapots and a global glut that’s challenging oil producers, said Li Li, an analyst at commodities researcher ICIS-China. The trade war and U.S. sanctions on Iran and Venezuela present Brazil with a good opportunity to expand its presence in China, she said.Chinese crude imports from Brazil reached a record 4 million metric tons in February and have averaged 3.5 million a month so far this year. That compares with 2.6 million a month in 2018 and 1.9 million in 2017.(Updates with comment from analyst in 6th paragraph.)To contact Bloomberg News staff for this story: Alfred Cang in Singapore at acang@bloomberg.net;Sarah Chen in Beijing at schen514@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Andrew JanesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • MarketWatch20 days ago

    Petrobras stock falls on heavy volume after public stock offering

    The U.S.-listed shares of Brazil-based Petroleo Brasileiro S.A. , also known as Petrobras, fell 0.5% on NYSE-leading volume in afternoon trading Wednesday, to buck a broad rally in the energy sector, after the oil and gas exploration company priced a secondary share offering at a discount. Trading volume was 48.1 million shares, compared with the full-day average of about 13.5 million shares. Petrobras disclosed Wednesday that its public offering of 69.3 million American Depositary Shares (ADS) priced at $15.84 each, or 0.9% below Tuesday's closing price of $15.98. The offering was valued at $1.10 billion, which represented about 1.1% of the company's market capitalization. The stock lost 3.0% over the past three months, while the SPDR Energy Select Sector ETF has slipped 4.1% and the S&P 500 has gained 3.6%.

  • Brazil's Petrobras pays $700 million to Vantage Drilling after court decision
    Reuters25 days ago

    Brazil's Petrobras pays $700 million to Vantage Drilling after court decision

    Brazilian state-controlled oil company Petróleo Brasileiro SA said on Friday it had made a $700 million payment to oil services provider Vantage Drilling Company in a case involving a contract that it had terminated. Petrobras, as the oil company is known, said in a securities filing that it decided to make the payment following a decision by a U.S. court in Texas denying its request to cancel the result of an earlier arbitration in Holland opened by Vantage after Petrobras terminated a drilling contract in 2015. Petrobras argued at the time that the contract had been awarded to the U.S. company "by way of corruption," according to findings by Brazil's Operation Car Wash anti-corruption investigation.

  • Oil & Gas Stock Roundup: C&J Energy-Keane Merger, Phillips 66 JVs & More
    Zacks28 days ago

    Oil & Gas Stock Roundup: C&J Energy-Keane Merger, Phillips 66 JVs & More

    C&J Energy Services (CJ) and Keane Group (FRAC) agreed to merge in an all-stock deal, while Phillips 66 (PSX) unveiled plans to form two pipeline project joint ventures for crude oil transportation.

  • Brazil oil workers join pension reform protests with strike action
    Reuterslast month

    Brazil oil workers join pension reform protests with strike action

    Oil workers at state-run Petroleo Brasileiro SA have begun a 24-hour strike in eight Brazilian states as part of nationwide protests against a government proposal to reform pensions, umbrella union group FUP said on Friday. Workers at nine refineries, including Reduc in Rio de Janeiro state and Paulínia in São Paulo state, were participating in the strike, which also affected a Petrobras port terminal in Pernambuco and a fertilizer plant in Bahia, FUP said. On the Campos basin in Rio de Janeiro, workers were keeping operations to a minimum, it added.

  • Has Total’s Short Interest Risen?
    Market Realistlast month

    Has Total’s Short Interest Risen?

    Since April 1, Total's (TOT) short interest has risen from 0.04% to 0.10%, while its stock price has fallen 2.0%.

  • Petrobras (PBR) Ups 5-Year Investment & Divestment Targets
    Zackslast month

    Petrobras (PBR) Ups 5-Year Investment & Divestment Targets

    Petrobras (PBR) plans to invest $105 billion and divest $35 billion worth of assets during the 2019-2023 time frame.

  • Exclusive: Petrobras ignored warnings about fuel broker implicated in graft probe
    Reuterslast month

    Exclusive: Petrobras ignored warnings about fuel broker implicated in graft probe

    Brazil's Petrobras found suspicious activity in its oil trading business - and failed to stop it - six years before an alleged bribery scandal erupted in that unit in 2018, according to three people with knowledge of the situation and documents seen by Reuters. A 2012 internal probe at the state-run oil company turned up more than two dozen instances in which traders in Petrobras' Singapore office overpaid for fuel, the people said. Some employees in 2013 recommended halting transactions with one particular fuel brokerage that had consistently sold fuel to Petrobras at above-market prices, according to the people.

  • Reuters - UK Focuslast month

    UPDATE 1-Second phase of Brazil's Mero deep offshore project launched -Total

    French energy group Total said it had launched the second phase of development for the Mero project off the coast of Brazil, along with its partners, as the deep offshore oil project moves closer to getting off the ground. "The decision to launch Mero 2 comes as a new milestone in this large-scale project that will develop the giant oil resources of the Mero field, estimated at 3 to 4 billion barrels," said Arnaud Breuillac, Total's head of exploration and production. The Mero 2 floating production storage and offloading vessel(FPSO) will have a liquid treatment capacity of 180,000 barrels per day and is expected to start by 2022.

  • Petrobras (PBR) Receives Court Approval for Asset Sales
    Zackslast month

    Petrobras (PBR) Receives Court Approval for Asset Sales

    Marking a major victory for the Bolsonaro government and Petrobras (PBR), the court rules that state-held companies do not require congressional approval to jettison their subsidiaries.

  • Oil & Gas Stock Roundup: Deals From Chevron, Canadian Natural & TC Energy
    Zackslast month

    Oil & Gas Stock Roundup: Deals From Chevron, Canadian Natural & TC Energy

    Chevron (CVX) moved closer to its goal of pulling out of UK exploration and production, while Canadian Natural Resources (CNQ) decided to solidify its position on its home turf.

  • Petrobras' (PBR) Asset Sales Suspended by Court Rulings
    Zacks2 months ago

    Petrobras' (PBR) Asset Sales Suspended by Court Rulings

    Petrobras (PBR) revved up its five-year plan in March, and now intends to offload $26.9 billion through 2023, streamline portfolio and sharpen focus on other profitable segments.

  • Why Petrobras (PBR) Stock Might be a Great Pick
    Zacks2 months ago

    Why Petrobras (PBR) Stock Might be a Great Pick

    Petrobras (PBR) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

  • Reuters - UK Focus2 months ago

    Petrobras removes three banks from BR Distribuidora privatization -sources

    RIO DE JANEIRO/SAO PAULO, May 17 (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA has removed three banks from the privatization process of fuel distribution unit Petrobras Distribuidora, four sources with knowledge of the matter told Reuters this week. BR Distribuidora, as the unit is known, is among the assets that Petrobras intends sell to reduce debt and increase investments in oil exploration and production. Petrobras holds a 71.25% stake in BR Distribuidora and is seeking to privatize the fuel distributor through a share offering in the coming weeks.

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