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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Petroleo Brasileiro SA Petrobras    PETR4   BRPETRACNPR6

PETROLEO BRASILEIRO SA PETROBRAS

(PETR4)
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Petroleo Brasileiro Petrobras : Brazil judge temporarily allows Petrobras to continue divestment program

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01/12/2019 | 12:49pm EDT
Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro

SAO PAULO (Reuters) - The chief justice of Brazil's Supreme Court has restored a presidential decree regulating how state-controlled Petroleo Brasileiro SA can carry out an ambitious divestment program meant to reduce the company's significant debt.

Judge Dias Toffoli's decision, signed on Friday, overturned an injunction issued by a colleague last month. Toffoli's ruling should hold until Feb. 27, when the full Supreme Court will hear the case.

The December injunction, following a lawsuit filed by the opposition Workers Party, raised doubts about the ability of Petrobras, as the company is known, to carry out the divestments as planned.

Petrobras is planning asset sales of $26.9 billion over the next five years, according to a strategic outlook released late last year.

(Reporting by Paula Arend Laier; Writing by Marcelo Rochabrun; Editing by Chizu Nomiyama)

Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) -0.08% 4.3668 Delayed Quote.-1.46%
PETROLEO BRASILEIRO SA PETROBRAS 0.58% 27.67 End-of-day quote.24.56%
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Financials (BRL)
Sales 2019 355 B
EBIT 2019 70 077 M
Net income 2019 29 814 M
Debt 2019 282 B
Yield 2019 2,75%
P/E ratio 2019 11,66
P/E ratio 2020 8,10
EV / Sales 2019 1,87x
EV / Sales 2020 1,56x
Capitalization 383 B
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 31,4  BRL
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Eduardo Bacellar Leal Ferreira Chairman
Rafael Salvador Grisolia Chief Financial Officer
Roberto Moro Chief Engineering & Technology Officer
Hugo Repsold Chief Technology & Production Development Officer
Segen Farid Estefen Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
PETROLEO BRASILEIRO SA PETROBRAS24.56%99 608
ROYAL DUTCH SHELL12.98%267 598
PETROCHINA COMPANY-3.47%175 486
TOTAL5.99%148 744
GAZPROM PAO (EDR)65.73%87 394
GAZPROM PAO--.--%87 394