Petrobras can’t convince workers to end strike, losses mount

The mean estimate for the short term price target for Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) stands at $6.70 according to 13 Analysts. The Counter has been rated as hold from 6 Wall Street Analysts. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.

Instead, sky-high supertanker rates have prevented them from putting more oil into so-called floating storage, shutting off one of the safety valves that could prevent oil prices from falling further. The rating major has initiated the coverage with an equal-weight rating on the shares. Finally, HSBC reduced their target price on Petroleo Brasileiro SA Petrobras from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, September 2nd. The rating by the firm was issued on October 12, 2015. Vale S.A. (VALE)’S monthly performance stands at -13.260% with an analyst rating of 3 and dividend yield of 2.48%.

Petroleo Brasileiro S.A. – Petrobras has lost 8.9% in the last five trading days and dropped 6.36% in the last 4 weeks. Petroleo Brasileiro S.A. – Petrobras has a P/S of 0.31 and a P/G of.

Apple Inc. (AAPL) of the Consumer Goods sector is down -0.26% (change from open -0.40%) this morning trading at a volume of 4,284,436 shares and price of $115.81. After opening at $4.16, the stock hit as high as $4.18. The company is now valued at around $101.03 billion. AbbVie Inc (NYSE:ABBV) a leading biopharmaceutical company, will present data from clinical trials evaluating the company’s oncology portfolio during the 57th American Society of Hematology Annual Meeting (ASH), December 5-8, in Orlando, Fla. Petroleo Brasileiro SA Petrobras has a 12-month low of $3.72 and a 12-month high of $11.13.

The Brazilian real’s 21 percent decline in the quarter weighed on the company’s results as most of Petrobras’s revenue comes from domestic sales while the majority of its debt is denominated in dollars, causing borrowing costs to surge when the real weakens. Its global segment engages in the exploration, production, refining, transportation, marketing, and distribution of gas and power in the Americas, Africa, Europe, and Asia. Power section and the Gas includes transportation and trading of natural gas made in Brazil, among other activities. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management.