Dallas, Texas 07/15/2013 (Financialstrend) – In the history of Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) the company is currently facing the toughest days as its stock price has been falling since this May. Brazil’s destabilized economy is said to be the reason for this fall in stock price. Brazil is struggling to maintain strength against the United States dollar. The company is facing large loss in its domestic market as it is selling imported gasoline and diesel. Petroleo Brasileiro SA Petrobras (Petrobras) is a Brazilian oil and gas company which divides its activities into six segments of gas and energy: provision, production, exploration, bio fuel production, distribution and international production.
This situation is believed to improve as the reserves of oil in Brazil produce an extra of 100 billion barrels; hence, Petroleo Brasileiro Petrobras SA plans to invest heavily in improving its oil fields. By the year 2016, the company aims to produce 1 million barrels per day. Currently, Petroleo Brasileiro Petrobras is downgraded, but through rising production numbers it shows promising signs. It is also believed that car sales in Brazil will improve Petrobras’ business. Recently, Petroleo Brasileiro Petrobras SA (ADR) obtained its LNG shipments Sonangol, Angola and the agreement was made as there is significant demand for fuels.
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) shares currently trading at $13.24, up by 1.38%. During the day, the stock is fluctuating between a low intraday price of $13.05 and a high intraday price of $13.29 per share. The stock currently has a 52-week low of $12.03 and a 52-week high of $24.83 per share. Petroleo Brasileiro Petrobras currently has a market cap of $86.35 billion with around 6.52 billion outstanding shares in the market and institutional ownership of 8% of its total equity capital. The stock witnessed active trading in around 28.11 million shares on Friday, while the average level of trading activity is 20.60 million shares per day.
