PBR - Petroleo Brasileiro S.A. - Petrobras
5.50 +0.09 (1.66%)
After hours: 7:54PM EDT
| Previous Close | 5.50 |
| Open | 5.18 |
| Bid | 5.32 x 40700 |
| Ask | 5.53 x 40000 |
| Day's Range | 5.14 - 5.53 |
| 52 Week Range | 4.01 - 17.17 |
| Volume | 26,846,296 |
| Avg. Volume | 32,193,922 |
| Market Cap | 34.718B |
| Beta (5Y Monthly) | 1.90 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.27 (4.96%) |
| Ex-Dividend Date | Nov 11, 2019 |
| 1y Target Est | 15.44 |
- Reuters
Brazil's Braskem eyes drawing down of US$1bn revolver: sources
Brazilian petrochemicals company Braskem is evaluating whether to draw down on its US$1bn revolving credit facility, according to a banking source and others. The move to withdraw a portion or its entire credit facility comes as companies shore up their cash balances to withstand the economic slowdown caused by the coronavirus pandemic. Braskem is evaluating the option to withdraw its dollar-denominated credit facility, but no decision was final yet, the company said in an email communication with Refinitiv LPC.
- Reuters
Cash-starved Latam companies rush for credit as govt help lags
Latin American companies from oil behemoth Petrobras to cement maker Cemex, facing drastic coronavirus-linked revenue declines, are rushing to draw down credit lines amid a shutdown in local bond markets and a paucity of state aid. Since concerns about the coronavirus pandemic hit the region, disbursement on revolving credit lines have risen to an average of 65% from a previous 10 percent, said a senior executive at one of the largest U.S. banks in Latin America, adding he expects it to reach 100% in the short term. Brazil's state-controlled oil company Petroleo Brasileiro SA has said it cashed out almost $9 billion from its revolving credit lines and Vale SA has drawn down $5 billion.
- Reuters
Petrobras increases liquefied petroleum gas imports - statement
Brazilian state-owned oil company Petrobras is increasing liquefied petroleum gas imports, it said on Monday, as consumer demand in some parts of the country for cooking gas has soared on worries that coronavirus-related controls might limit supply. In a statement, Petroleo Brasileiro SA said three ships are on their way to Brazil loaded with LPG, each with a capacity of 20 million kilograms (20,000 tonnes), equal to 1.6 million canisters used in homes. The first is scheduled to arrive on Monday, while the other two are due April 6 and 10, Petrobras said.
- Reuters
Falling Latam fuel demand leaves U.S. refiners without favored export customers
MEXICO CITY/NEW YORK, March 27 (Reuters) - Demand for refined products in Latin America is quickly drying up as the coronavirus pandemic worsens, leaving U.S. refiners without their primary export destination as the virus spreads. The crisis has nearly shut down worldwide air travel and is destroying fuel demand, which could fall by 15% to 20% globally in coming months. The virus had not hit Latin America with the same intensity as Europe or the United States, but it is increasingly spreading there, and a growing number of nations are imposing travel restrictions.
- Reuters
Petrobras' divestment push in Brazil challenged by oil price war
A move by Brazil's Petrobras on Thursday to slash output, capital spending and dividends brings the state-run oil firm into alignment with global rivals confronted with a global pandemic and a plunge in crude prices. Petrobras has thrilled investors over the last two years with its rapid-fire sale of dozens of non-core assets, as the company's management pushes to drive down debt. Brazil-listed preferred shares in Petroleo Brasileiro SA , as the firm is formally known, are off over 50% this year, among the worst performers of all major, publicly listed oil companies.
- Reuters
Latin America's oil producers sweat to cover costs as price war takes toll
A price war between the world's oil powerhouses is leaving many producers in Latin American struggling to cover production costs, boosting chances of output cuts and investment delays in coming months. Global oil price benchmarks have had their steepest declines in decades in a perfect storm of falling demand during the coronavirus epidemic and surging supplies after Russia and Saudi Arabia failed to reach a deal to extend output cuts.
- Rigzone.com
Murphy and Petrobras Award Five-year FPSO Contract
The MP GOM partnership between Murphy EXPRO and Petrobras America has hired the BW Pioneer FPSO for at least five years.
- Reuters
Brazil's big privatizations, the latest coronavirus victim
As Brazil's stock market hit record highs in January, Economy Minister Paulo Guedes said the country could raise up to 150 billion reais ($30 billion) with sales of state-owned companies through share offerings, mergers and acquisitions. With the market down 40% from its peak as the coronavirus pandemic rattles Brazil and tips the global economy toward recession, the minister will have to slash his ambitions. Brazil's government, which has run six straight years of deficits, was counting on asset sales to limit its shortfall to 124 billion reais this year.
- Reuters
Brazil's Petrobras may adjust five-year business plan in short-term: source
Brazil's state oil firm Petrobras is evaluating a short-term adjustment to its five-year business plan, as it confronts rock bottom oil prices and the global coronavirus outbreak, according to a source with direct knowledge of the matter. "We're looking at the need to adjust the plan in the short-term, but in the medium-term, we think the situation will normalize," said the source, who requested anonymity to disclose private discussions. Petroleo Brasileiro SA, as the firm is formally known, did not immediately respond to a request for comment.
- Zacks
The Zacks Analyst Blog Highlights: JPMorgan Chase, Mastercard, Qualcomm, Petrobras and Walgreens Boots Alliance
The Zacks Analyst Blog Highlights: JPMorgan Chase, Mastercard, Qualcomm, Petrobras and Walgreens Boots Alliance
- Reuters
EMERGING MARKETS-Latam FX hit new lows, Brazil stocks set for worst day in over 21 years
* Mexican, Colombian, Chilean pesos at record lows * Brazil's Bovespa index set for worst day since Oct. 1998 * Azul dives as it cuts international flights (Adds comment, updates prices) By Shreyashi Sanyal March 12 (Reuters) - Most Latin American currencies touched historic lows on Thursday and regional stocks nosedived after Washington's unexpected curb on travel from Europe heightened fears that the coronavirus pandemic would slam global growth. U.S. President Donald Trump on Thursday announced the sweeping restrictions and economic steps to counter the pandemic's impact, but the scant details disappointed investors. "Instead of providing urgently required reassurance to already terrified markets that his administration is capable of dealing with the coronavirus, President Trump gave a speech that reignited selling pressure across global stocks," said Piotr Matys, senior emerging markets FX strategist at Rabobank.
- Reuters
EMERGING MARKETS-Latam FX hit new lows, Brazil stocks sink 15%
* Mexico's peso drops 4%, Colombia peso at 4,030 * Oil prices slide * Brazil's Bovespa index set for worst day in more than 2 decades * Azul, LATAM Airlines dive; to cut international flights By Susan Mathew March 12 (Reuters) - The Mexican peso plunged 4% to new lows on Thursday, as did other Latin American currencies, while regional stocks nosedived after Washington's surprise move to curb travel from Europe exacerbated fears that the coronavirus pandemic would slam global growth. U.S. President Donald Trump imposed sweeping restrictions on travel from Europe on Thursday and also unveiled economic steps to counter the impact of the pandemic which disappointed investors as they were light on details.
- Zacks
Implied Volatility Surging for Petrobras (PBR) Stock Options
Investors need to pay close attention to Petrobras (PBR) stock based on the movements in the options market lately.
- Reuters
Brazil's Petrobras to inject $3.4 billion into pension fund over 25 years
Brazilian state-controlled oil company Petroleo Brasileiro SA expects to inject $3.4 billion into its employees' pension fund, Petros, over the next 25 years, the company said on Tuesday. Petrobras said in a statement that a calculation made in December forecast a future deficit in its Petros Fundacao pension fund of 33.7 billion reais ($7.26 billion). In total, it said it would inject 15.6 billion reais ($3.4 billion) into the pension fund.
- Bloomberg
Oil’s ‘Ugly’ Outlook Sends Petrobras Into Freefall
(Bloomberg) -- Petroleo Brasileiro SA tumbled after crude prices sank the most since 1991, triggering an analyst downgrade and raising concern over the pace of the company’s debt reduction.Petrobras’s American depositary receipts fell 31% to $7.26 in New York Monday, the most on record. Oil markets crashed more than 30% after the disintegration of the OPEC+ alliance set off a price war between Saudi Arabia and Russia.Bradesco BBI sees a bearish scenario for crude and downgraded Petrobras to neutral from outperform. The scenario makes it harder for Brazil’s state-controlled oil producer to reach its goal of cutting net debt to about 1.5 times Ebitda, said analyst Vicente Falanga. He said it probably won’t get below that metric until after 2025.“Deleveraging should take much longer,” he wrote in a report, while slashing his price target to $11 from $18. Higher dividends “should not happen anytime soon.”Under Chief Executive Officer Roberto Castello Branco’s administration, Petrobras has sought to shore up its balance sheet and focus on ultra deep-water fields. Further weakness can’t be ruled out and oil prices could potentially collapse to as low as $25 per barrel, Falanga said.“Whatever the long-term outcome of this war is, one thing is clear to us,” he said. “The short term will get pretty ugly.”Petrobras bonds led declines in Brazil and were among the worst performing corporate debt in emerging markets, along with notes from YPF SA and Petroleos Mexicanos. Dollar notes due in 2043 fell as much as 18 cents, the most since they were issued in 2013, to 99 cents, sending the yield to 5.7% from below 4.5% last week.(Updates stock move in second paragraph)\--With assistance from Aline Oyamada.To contact the reporter on this story: Vinícius Andrade in São Paulo at vandrade3@bloomberg.netTo contact the editors responsible for this story: Courtney Dentch at cdentch1@bloomberg.net, Lisa Wolfson, Scott SchnipperFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Brazil's cracked city leaves corporate heavyweights on the hook
A sudden, violent tremor knocked José Rinaldo Januario to the floor of his kitchen one Saturday afternoon two years ago - a mystery given the Brazilian city of Maceio had little history of seismic activity. "It was like a volcano exploded," said Januario, 47. Last May, federal authorities identified a culprit: petrochemical giant Braskem.
- Reuters
INSIGHT-Brazil's cracked city leaves corporate heavyweights on the hook
A sudden, violent tremor knocked José Rinaldo Januario to the floor of his kitchen one Saturday afternoon two years ago - a mystery given the Brazilian city of Maceio had little history of seismic activity. "It was like a volcano exploded," said Januario, 47. Last May, federal authorities identified a culprit: petrochemical giant Braskem.
