Petrobras (PBR) Stock Gains on June Production

Petrobras (PBR) stock is trading higher pre-market after reporting a monthly record in oil and natural gas output last month.
By Rachel Graf ,

NEW YORK (TheStreet) -- Shares of Petrobras (PBR) - Get Report are rising 3.73% to $8.06 in pre-market trading on Tuesday after reporting record oil and natural gas production for June.

Brazil's state-owned oil company said yesterday that June production reached 2.9 million barrels of oil equivalent per day, surpassing its August 2015 record of 2.88 million barrels of oil equivalent per day. 

Output for the month rose 2% from the previous month, with 2.7 million barrels of oil equivalent per day produced in Brazil and 0.2 million barrels of oil equivalent per day produced abroad.

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

Petrobras's weaknesses include its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: PBR

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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