On Monday, the company announced that its natural oil and gas output in Brazil rose 0.7% in February, over January, despite brief stoppages in the Santos Basin.
Petroleo Brasileiro Petrobras was identified as a "storm the castle" candidate by Trade-Ideas LLC based off of its average dollar volume of $438.3 million, having traded 17.3 million shares (by 12:40pm) Wednesday, trading at 1.64 times its normal volume for that time of day and having crossed above its 200-day simple moving average.
TheStreet Ratings team rates PETROBRAS-PETROLEO BRASILIER as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate PETROBRAS-PETROLEO BRASILIER (PBR) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including poor profit margins, weak operating cash flow and a generally disappointing performance in the stock itself."