PETR4.SA - Petróleo Brasileiro S.A. - Petrobras

Sao Paolo - Sao Paolo Delayed Price. Currency in BRL
27.83
-0.35 (-1.24%)
At close: 5:09PM BRT
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Previous Close28.18
Open28.28
Bid27.85 x 0
Ask27.84 x 0
Day's Range27.60 - 28.33
52 Week Range17.65 - 29.60
Volume54,586,000
Avg. Volume46,171,643
Market Cap383.534B
Beta (3Y Monthly)1.79
PE Ratio (TTM)15.88
EPS (TTM)1.75
Earnings DateMar 19, 2018 - Mar 23, 2018
Forward Dividend & Yield0.99 (3.46%)
Ex-Dividend Date2019-05-22
1y Target Est28.55
  • Reuters1 hour ago

    Brazil's Petrobras in talks to give back licenses in Uruguay- filing

    Brazil's state-controlled oil company Petroleo Brasileiro SA is in talks with the Uruguayan government to give back licenses to operate natural gas distributors in the country, the company said in a securities filing late on Tuesday. The CEO of Petrobras, as the company is known, Roberto Castello Branco met on Tuesday with Uruguayan president Tabare Vázquez to discuss the issue, the company said. Petrobras said the licenses to operate the companies will be given back to the Uruguayan government by the end of September and both parties agreed to end litigation involving the licenses.

  • Reuters2 days ago

    Brazil plan to open gas sector seen luring Naturgy, Engie, others

    Recently announced plans to foster competition in the Brazilian natural gas market may trigger a wave of privatizations among state-controlled distribution companies, luring international and domestic bidders, experts on the sector say. Brazil's Cosan SA and Spain's Naturgy Energy Group SA, are among the companies potentially interested in the segment, which also include Portugal's Galp , France's Engie and Spain's Repsol , consultants, lawyers and other experts said. The plan to overhaul Brazil's domestic natural gas market, approved by Brazil's energy policy council in late June, calls for companies with a "dominant position" to sell all of their stakes in distributors.

  • Reuters2 days ago

    Petrobras says potential exit from Brazil bourse's good governance program would not weaken co

    Brazilian state-run oil firm Petroleo Brasileiro SA said a potential end to its participation in a program certifying good governance set up by the Sao Paulo stock exchange would not weaken its corporate governance, according to a securities filing on Monday. Reuters reported on Friday that Petrobras, as the company is known, is considering exiting from a Brazil bourse program that certifies good governance and limited political interference in state companies. The company said that many important aspects of the program are already written into Petrobras bylaws.

  • Brazil's High-Flying Stocks May Gain Altitude as Rates Decline
    Bloomberg2 days ago

    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
    Reuters5 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 Realist5 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 Realist5 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.

  • Reuters7 days ago

    REFILE-Privatization to dominate capital markets, M&A in Brazil this year

    As court injunctions delayed asset sales by oil company Petroleo Brasileiro SA and discussion of pension reform dragged on in Congress, the volume of mergers and acquisitions in the first half of the year fell 19% to $20.8 billion, according to Refinitiv data. After Brazil's Supreme Court finally cleared the way for Brazil's largest deal this year, the sale by Petrobras of gas pipeline network TAG to France's Engie SA for $8.6 billion, banks expect the volume of privatization-related M&A to grow.

  • Bloomberg8 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.

  • Reuters9 days ago

    UPDATE 1-Brazil's Petrobras strikes deal with regulator to sell natgas assets

    Brazilian state-owned oil firm Petroleo Brasileiro SA has reached an agreement with anti-trust regulator Cade to sell off a series of natural gas transportation and distribution assets, the company said in an exchange filing on Monday. Petrobras, as the company is commonly known, said it had pledged to sell stakes in pipeline networks including a 10% stake in Nova Transportadora do Sudeste (NTS) SA, 10% in Transportadora Associada de Gas (TAG) SA and 51% in Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG) SA. "The objective of the agreement is to preserve and protect competitive conditions, in light of the opening of the Brazilian natural gas market, to incentivize the entry of new market actors, as well as suspend Cade's administrative procedures investigating Petrobras' actions in the sector," the company said in its filing.

  • Reuters12 days ago

    Brazil's Petrobras puts offshore gas fields, exploration bloc up for sale

    Brazilian state-run oil firm Petroleo Brasileiro SA has put its Peroa and Cangoa shallow-water natural gas fields and a deepwater exploration concession known as Malombe in the state of Espirito Santo up for sale, the company said. In a securities filing, Petrobras, as the company is known, said it was beginning the teaser phase of the sale process, in which it publicly releases basic information about the assets. Peroa and Cangoa produce about 900,000 cubic meters of gas per day and Malombe is expected to be declared commercially viable in the second half of 2019, the company said.

  • Reuters13 days ago

    UPDATE 1-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.

  • Dozens arrested in Rio for murder, extortion of Petrobras contractors
    Reuters13 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.

  • Reuters13 days ago

    Rio police arrest over 40 for extorting Petrobras contractors, murdering opponents

    Police in Rio de Janeiro arrested 43 people on Thursday for allegedly taking part in a murderous gang that extorted companies providing services to state-run oil company Petrobras and established a secret cemetery where it disposed of rivals. The arrests underline the growing power of militias in and around South America's third largest city, comprised in part of retired and off-duty police officers, who control the distribution of utilities and basic goods for millions of residents. It also illustrates the growing threat of militias and other organized crime groups to parts of Brazil's oil and gas sector.

  • Is Petrobras Stock the "Best Story" in Big Oil?
    Motley Fool14 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.

  • Reuters14 days ago

    Petrobras details distribution unit share offering, sets date for late July

    Brazilian state-run oil firm Petroleo Brasileiro SA is planning to privatize its fuel distribution unit in a share offering in late July, the company said, in a process that would raise up to 9.28 billion reais ($2.41 billion) considering Tuesday's closing price. In a prospectus released early on Wednesday by Petrobras, as the firm is known, the company released the long-awaited details of a share offering that would effectively privatize Petrobras Distribuidora SA. According to the prospectus filed with Brazilian securities industry watchdog CVM, the firm will sell at least 25% of Petrobras Distribuidora's shares, a proportion that could increase to 33.75% through overallotment provisions.

  • Reuters15 days ago

    Brazil's Petrobras shakes up trading unit amid increasing exports

    RIO DE JANEIRO/HOUSTON, July 2 (Reuters) - Brazil's Petroleo Brasileiro SA is reorganizing its trading business, the company told Reuters on Monday, as the state-run oil firm seeks to best take advantage of an expected increase in oil and gas exports. Petrobras, as the company is widely known, is dividing its marketing and trading division into a domestic unit and an international unit, the company said in a statement, after two sources told Reuters of the changes. "Petrobras is splitting its Marketing and Trading area into Trading in Foreign Markets (CME) and Trading in Domestic Markets (CMI)," the company said.

  • Reuters16 days ago

    CORRECTED-MOVES-Former Petrobras CEO Ivan Monteiro appointed as Nubank risk committee member

    Brazilian financial startup Nubank has appointed former Petroleo Brasileiro SA's Chief Executive Ivan Monteiro as a member of its risk committee and finance consultant, it said on Monday in a statement. Monteiro's hiring comes at a time that Nubank is broadening its product offering beyond credit cards and also expanding from Brazil to Mexico and Argentina. Monteiro joined Petrobras, as the oil company is known, in 2015 as chief financial officer and was tapped as CEO in June 2018.

  • Reuters19 days ago

    EMERGING MARKETS-G20 nerves suppress gains in Latam currencies

    Most Latin American currencies edged lower on Friday, as anxious investors awaited the outcome of a high-stake meeting between the U.S. and Chinese leaders over their trade dispute that has roiled financial markets for months. U.S. President Donald Trump said on Friday he hoped for productive talks with Chinese President Xi Jinping, set to be held at the sidelines of a Group of 20 (G20) summit in Osaka, but said he had not made any promises about a reprieve from escalating tariffs. While most traders do not see both sides striking a trade deal, Trump is expected to refrain from imposing new tariffs on Chinese goods.

  • Brazil Bets Storing Oil Near Teapots Will Boost China Sales
    Bloomberg19 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.