Company Update (NYSE:PBR): Petroleo Brasileiro Petrobras SA (ADR) Receives US$ 1.5 Billion From The China Development Bank
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) informs that it has received today, through its fully owned subsidiary Petrobras Global Trading BV – PGT, the amount of US$ 1.5 Billion related to the loan signed on May 20th, 2015, with the China Development Bank.
As informed by the Company on May 20th, with this amount, the loan contracted with CDB throughout 2015 totals US$ 5 Billion.
This loan is part of the cooperation agreement signed between Petrobras and CDB for the years 2015 and 2016.(Original Source)
Shares of Petrobras closed today at $9.10, down $0.04 or 0.44%. PBR has a 1-year high of $20.94 and a 1-year low of $4.90. The stock’s 50-day moving average is $9.27 and its 200-day moving average is $7.59.
On the ratings front, Petrobras has been the subject of a number of recent research reports. In a report issued on April 26, Morgan Stanley analyst Bruno Montanari downgraded PBR to Sell, with a price target of $8.50, which implies a downside of 6.6% from current levels. Separately, on April 24, Cowen’s Asit Sen maintained a Hold rating on the stock and has a price target of $11.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Bruno Montanari and Asit Sen have a total average return of 4.8% and -10.6% respectively. Montanari has a success rate of 71.4% and is ranked #2041 out of 3623 analysts, while Sen has a success rate of 0.0% and is ranked #3223.
Petroleo Brasileiro SA Petrobras operates as an integrated oil & gas company in Brazil. Its business is structured into segments such as Exploration & Production; Refining, Transportation & Marketing; Distribution; Gas & energi; Biofuel; & International.