Petrobras +10% on fuel price increases

JPMorgan Chase & Co. downgraded shares of Petroleo Brasileiro Petrobras SA from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $10.50 to $7.00 in a research report on Friday, September 11th. The announcement that it would boost gasoline prices 6 percent and diesel prices 4 percent even as policy makers work to combat inflation bolstered confidence in the government’s willingness to let the company operate without interference. Petrobras (PBR) reported that the drilling of the third well in Carcar area (Block BM-S-8), located at Santos Basins ultra-deep waters, confirmed the light oil potential in pre-salt’s reservoirs.

Can The Boeing Firm become the newest Buy stock following this news? Petroleo Brasileiro Petrobras SA presently has an average rating of Hold and an average price target of $8.41. Kinder Morgan, Inc. (KMI) is trading at $28.12 at a volume of 1,623,790 shares. Zacks cut Petroleo Brasileiro Petrobras SA from a “buy” rating to a “hold” rating in a report on Monday, June 29th. Equities research analysts expect that Petroleo Brasileiro Petrobras SA will post $0.73 EPS for the current fiscal year.

Petroleo Brasileiro Petrobras SA (NYSE:PBR) traded down 4.14% on Thursday, reaching $4.17.

Petroleo Brasileiro Petrobras SA (NYSE:PBR) last released its quarterly earnings data on Friday, August 7th. Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. Morgan Stanley restated a “sell” rating on shares of Petroleo Brasileiro Petrobras SA in a research note on Tuesday, June 30th.

Petroleo Brasileiro S.A.?Petrobras, together with its subsidiaries, engages in the exploration, exploitation, and production of oil and gas, and energy in Brazil and internationally.

Investors saw it as welcome news for the heavily-indebted company, which has struggled this year with the fallout from a massive corruption investigation. The Companys offering comprises road transportation products such as Automotive Gasoline, Diesel Fuel, Natural Vehicular Gas, Lubrax; agriculture and cattle raising products such as Sunflower Meal, among others; Industrial products such as Solvents and Paraffins, among others. Biofuels section covers the activities of production of biodiesel and its own co-products, along with the ethanol-related tasks. The Distribution segment contains wholesale channels and its retail network. The Global segment includes its activities in the Americas, Asia, Europe and Africa.