Petrobras (PETR4) jumps 5% to R$36, the highest price in 12 years; “stock is still cheap”, says analyst – Money Times

Petrobras
Petrobras action turns rocket and shoots; what motivates the paper to jump? (Image: REUTERS/Ricardo Moraes)

The actions of Petrobras (PETR4) closed up 5.05% in this Monday’s session, on a day marked by the high Petroleum.

As a result, preferred shares ended the day trading at R$36.63. This is the highest price since mid-June 2010, when the company reached R$37.

According to Pedro Galdi, from Mirae Asseta set of factors make the stock take this leap.

It lists the distribution continuity expectations of good dividends quarterly, the flow of local and foreign investors looking for opportunities in the market with the lowest risk aversion and the share’s liquidity.

Galdi also says that the price of Petrobras remains lagged, even with the rise in the month.

The paper accumulates high of 25% in the year.

Idean Alves, partner and head of the trading desk at Ação Brasil Investimentos, recalls that the company signed a new amendment to the contract for the purchase of natural gas with Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), bringing more predictability to the supply of gas to the local market.

Lula and Petrobras

According to Folha de S. PauloLula’s intention is to exclude the Petrobras from the list of privatizations, in addition to interrupting the sale of refineries in progress and acquiring a relevant stake in Vibrate (VBBR3).

Allies of the presidential candidate even defend the creation of a state-owned energy company to be formed by electrobras (ELET3) and Petrobraswhich would depend on the repurchase of shares recently sold during the privatization of the Electrobras.

Lula’s team is also studying the purchase of stakes in the refineries that have already been sold: RLAM and Reman.

According to Senator João Paulo Prates (from PT – from RJ) the idea is not to reaffirm, but to acquire stakes large enough to have seats on their respective boards.

“The Federal Government, through its state-owned companies, must offer shares in the companies. If the shareholders accept, we will move forward with the business”, said the senator.

O Bradesco BBI highlights that the candidate for the presidency will have work to be able to mess with the state-owned.

This is because, in the case of refineries, BBI points out that the sale process is part of a term of commitment signed by Petrobras as Where. Thus, the decision not to proceed with the divestment process may result in fines for the oil company.

With Lorena Matos

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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