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    PETR4   BRPETRACNPR6

PETROBRAS

(PETR4)
  Report
Delayed Bolsa de Valores de Sao Paulo  -  04:07 2022-06-24 pm EDT
26.29 BRL   -0.76%
06/24PETROBRAS : on Board of Directors Meeting June 24, 2022
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06/24PETROBRAS : on manifestation of the Eligibility Committee June 24, 2022
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06/24Bolsonaro's pick for Petrobras CEO gets OK from eligibility committee
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Petrobras Shares Drop 4.8% After Brazil Government Fires CEO

05/24/2022 | 09:49am EDT

By Jeffrey T. Lewis


SÃO PAULO--Petróleo Brasileiro SA preferred shares fell 4.8% after the Brazilian government fired the state-controlled oil company's chief executive officer.

The shares fell to 31.00 reais, the equivalent of $6.42, and are up 27% from the end of last year through Monday's close. Brazil's benchmark Ibovepsa stocks index was down 1.6% at the same time.

Petrobras said late Monday evening that the country's Mining and Energy Ministry informed the company that it intends to replace CEO José Mauro Ferreira Coelho with Caio Mario Paes de Andrade, currently an economy ministry official with business degrees from U.S. universities and experience with internet startups.

Mr. Paes de Andrade will be the oil company's fourth CEO under Brazilian President Jair Bolsonaro, who fired the previous three men in the position after complaining about rising gasoline and diesel fuel prices.

Petrobras's independent pricing policy is increasingly under threat, with more price hikes unlikely to be tolerated amid Brazil's current situation of rapidly rising consumer prices, according to analysts at BTG Pactual.


Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com


(END) Dow Jones Newswires

05-24-22 1149ET

Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 0.71% 5.5524 Delayed Quote.-13.08%
LONDON BRENT OIL 2.22% 112.44 Delayed Quote.44.36%
PETROBRAS -0.76% 26.29 Delayed Quote.-7.59%
S&P GSCI PETROLEUM INDEX 2.48% 415.5351 Real-time Quote.51.77%
WTI 3.07% 107.53 Delayed Quote.38.53%
All news about PETROBRAS
06/24PETROBRAS : on Board of Directors Meeting June 24, 2022
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06/23PETROBRAS : on the sale of E&P assets in the Espírito Santo Basin June 23, 2022
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06/23PETROBRAS : on Gaspetro sale June 21, 2022
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Analyst Recommendations on PETROBRAS
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Financials
Sales 2022 545 B 104 B 104 B
Net income 2022 129 B 24 701 M 24 701 M
Net Debt 2022 218 B 41 652 M 41 652 M
P/E ratio 2022 2,52x
Yield 2022 48,7%
Capitalization 362 B 69 324 M 69 324 M
EV / Sales 2022 1,07x
EV / Sales 2023 1,14x
Nbr of Employees 45 532
Free-Float 64,4%
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Technical analysis trends PETROBRAS
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 26,29 BRL
Average target price 41,98 BRL
Spread / Average Target 59,7%
EPS Revisions
Managers and Directors
Fernando Assumpção Borges CEO, Chief Exploration & Production Officer
Rodrigo Araujo Alves Chief Financial Officer
Gileno Gurjo Barreto Chairman
Marcelo da Silva Carreras Head-IT & Telecommunications
Marcia Tosta Head-Cyber & Information Security
Sector and Competitors
1st jan.Capi. (M$)
PETROBRAS-7.59%69 324
SAUDI ARABIAN OIL COMPANY14.30%2 179 983
SHELL PLC28.72%189 141
PETROCHINA COMPANY LIMITED5.76%139 126
TOTALENERGIES SE11.04%133 803
PJSC GAZPROM-13.77%129 727