Petroleo Brasileiro Petrobras (NYSE:PBR) May End Partnership with Venezuelan Over Refinery Issue

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), Brazil’s government-run oil corporation, has given its Venezuelan counterpart, Petroleos de Venezuela SA, business Feb 28 to make a down payment on the $8.3 billion that it has decided to invest in a plant in northeastern Brazil, as shown by the Veja magazine.

The report confirms that the Venezuelans must make a payment of $1.5 billion otherwise Petrobras, as the Brazilian company is known, will end the partnership.

The report further confirms that PdVSA considers the project, which is greatly delayed and over budget, is no longer profitable and aims to lower its stake to 20%.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Petrobras Argentina SA ADR (NYSE:PZE) fell -2.68% to settle at $5.82, TOTAL S.A. (ADR) (NYSE:TOT) moved down -1.34% to end at $49.99 while Chevron Corporation (NYSE:CVX) dropped -0.65% to finish at $114.96 on Friday.

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) last session’s volume of 11.51 million shares was lower than its average volume of 16.25 million shares. The stock after opening at $16.09 hit high price of $16.12 and then closed at $15.96 by scoring -0.93%.

PBR generated revenue of $144.70 billion in the previous twelve months and earned $10.08 billion. The Company showed a positive 6.95% in the net profit margin as well as in its operating margin which remained at 12.87%. Company’s annual sales growth for the past five years was 15.06%.

The PBR’s past twelve months’ price to sales ratio was 0.72 and price to cash ratio remained 4.00. As far as the returns are concerned, PBR’s return on equity was recorded as 6.79% and return on investment increased 3.61% while its return on asset stayed at 3.21%.

The stock showed weekly downbeat performance of -1.36% which was maintained for the month at -19.19%. Likewise the negative performance for the quarter was recorded as -18.45% and for the year was -44.20% while the YTD performance remained at -18.03%.

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