Petrobras (PBR) Stock Still on the Rise Even as Oil Falls
NEW YORK (TheStreet) -- Shares of Petrobras (PBR) - Get Report are higher by 1.17% to $7.12 on high trading volume this afternoon as the company refinances.
The stock is trading on heavy volume, with nearly 33 million shares exchanging hands as opposed to the average of 27.42 million shares per day.
The company intends to refinance, selling bonds to buy back as much as $2 billion in debt, Bloomberg reports.
Additionally, crude oil (WTI) is down by 4.95% to $45.08 per barrel and Brent crude is falling by 4.96% to $46.38 per barrel this afternoon.
Oil lost all the gains it made in the market earlier this week as the Energy Information Administration announced today that weekly crude inventories dropped by 2.2 million barrels, short of 6.7 million barrels reported last week.
Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as 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
Recently, 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 articles's author.