Posts for Ticker ‘PBR’

Soros Fund Holdings

Yesterday Soros Fund Management Filed a 13-F outlining the fund’s long portfolio as of September 30th, 2009.  The total value of the holdings reported in the filing is $6,198,089.  Twenty holdings represented roughly 50% of the value.  Soros Fund Management is a hedge fund management company that invests primarily based on macroeconomic analysis.  It should be noted that the fund’s equity portfolio likely contains significant short positions, which are not reported in 13-F filings.  Some of the positions in the filing may be in place as hedges or part of a multi-part trade, rather than a directional bet.  With that in mind, a glance at this firm’s major holdings provides clues to its macroeconomic outlook.  

Total stakes in Petroleo Brasileo Brasileiro (NYSE: PBR) represent 9.23% of the value of the positions reported in the filing, with just over 13 million shares held.  This is down from by 2.3 million from the fund’s last filing. Read More »

Posted on: November 17, 2009 – 10:52 am in Uncategorized, , , , , , , , , , , , , , , , , , , , ,

Top 10 Analyst Upgrades, Downgrades, Initiations (ACOR, IP, OPEN, PBR, SPWRA, ASML, LAZ, PETD, TRW, WDC)

These are this morning’s top 10 pre-market analyst upgrades, downgrades, and initiations which we have seen early from Wall Street research firms:

Acorda (NASDAQ: ACOR) Raised to Buy at Merriman Curhan Ford; Raised to Outperform at Baird.
International Paper (NYSE: IP) Started as Outperform at RBC.
OpenTable (NASDAQ: OPEN) Raised to Buy at Citigroup.
PetroBras, or Petrobras Brasileiro (NYSE: PBR) Started as Outperform at Bernstein.
Sunpower (NASDAQ: SPWRA) Raised to Outperform at Baird.
ASML (NASDAQ: ASML) Cut to Sell at Citi.
Lazard (NYSE: LAZ) Cut to Perform at Oppenheimer.
Petroleum Development (NASDAQ: PETD) Cut to Neutral at Sun Trust.
Travelers Cos (NYSE: TRV) Cut To Market Perform at KBW.
Western Digital (NYSE: WDC) Cut to Hold at Stifel Nicolaus.

You can join our open email distribution list to get updates each morning on analyst upgrades and downgrades, top day trader alerts, IPO’s and secondary offerings, Warren Buffett and other guru activity, M&A and more.

JON C. OGG
OCTOBER 15, 2009

Posted on: October 15, 2009 – 8:27 am in Analyst Calls, , , , , , , , , ,

Brazil Olympic Stock Plays Feeling Lofty (EWZ, BRF, BZF, BBD, BRP, BTM, BAK, PDA, EBR, ABV, ELP, SID, CPL, ERJ, GFA, GGB, GOL, ITUB, NETC, PBR, TAM, TNE, TSP, VALE, VIV, VCP)

Rio Olympic ImageInvesting into emerging markets where the Olympics are headed is supposed to be a safe bet, in theory.  Despite a flat close for stocks in the U.S. on Friday, Brazilian shares rose almost across the board Friday after last week’s decision to send the 2016 Summer Olympics to Rio de Janeiro.  It was huge for the iShares MSCI Brazil (NYSE: EWZ) gaining 1.9% to $67.30 ($26.64 to $68.50 is the 52-week range) and the Market Vectors Brazil Small-Cap ETF (NYSE: BRF) rose 1.5% to $39.76 (its 52-week range is $23.68 to $40.42).  The WisdomTree Dreyfus Brazilian Real (NYSE: BZF) currency ETF rose 0.54% to $25.89.

Outside of the ETF investing, this story becomes one where stocks may still have great growth prospects.  But if you are a value investor or one who does not like to chase stocks when they are close to yearly or all-time highs, then there is a problem.  So many of these stocks are hitting highs or are so close that you have to wonder just how much upside is there.  Using 52-week highs and all-time highs is of course not the only metric for valuations, but you might be surprised as you read through a summary of the major Brazilian stock performances on Friday alone.  Throw in the Brazilian Real currency versus the US Dollar component as these are all ADRs and it adds in yet another element.

Banco Bradesco S.A. (NYSE: BBD) is the huge Brazilian bank and its shares rose 1.8% at $19.94, with a 52-week trading range of $7.40 to $20.20 and an all-time high north of $24.00.

Brasil Telecom Participacoes S.A (NYSE: BRP) is a telecom player in Brazil and its shares rose 2.9% to $52.33, with a 52-week trading range of $22.00 to $53.49 with highs in 2007 and 2008 hitting north of $80.00.

Brasil Telecom S.A. (NYSE: BTM) is a telecommunications services provider whose shares rose 3.3% to $26.28 and its 52-week trading range is $9.49 to $26.55 and it was in the mid-$30’s in early 2008.

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Posted on: October 5, 2009 – 7:01 am in ADR, Commodities, ETF, Economy, Emerging Markets, Entertainment, Financial Stocks, HI/LOW, Infrastructure, Large Cap Stocks, Politics, , , , , , , , , , , , , , , , , , , , , , , , , ,

BP’s (BP) Giant Oil Discovery And Future Of Supply

oilBP (BP) said it has made a “giant” discovery of crude oil in its Tiber Prospect in the Gulf of Mexico. The well was drilled to a depth of over 35,000 feet and the ocean floor at that spot is about two thousand feet under water.

Estimates are that the field could hold three billion barrels of oil, if drillers can get to it. That makes the find seem similar to one by Petrobras (PBR) in the Tupi field off the coast of Brazil. Read More »

Posted on: September 2, 2009 – 10:21 am in Oil & Gas, ,

Petrobras: Gov’t Investment and Venezuela Woes (PBR)

Petrobras LogoPetroleo Brasileiro (NYSE: PBR), or what we call Petrobras, has had a busy week.  This stock has recovered handily off of lows from early July, but all summer it has not been able to get above the $45.00 mark for the ADRs.  This week is bringing some pause for concern, even if the developments are likely to go in favor of Petrobras in the long-term.  There is a report of a huge multi-billion injection from the Brazilian government directly into the company, and this is on the heels of a recent refining project in Venezuela seeing a drastic cost increase.
Read More »

Posted on: August 27, 2009 – 10:19 am in ADR, Emerging Markets, Oil & Gas,

Top Analyst Upgrades (MT, BBT, EVVV, GHL, WFR, NZ, PBR, SY, STI)

Money Stack ImageThese are the top pre-market analyst upgrades and positive research calls we have seen early this Friday morning with more than two hours until the market opens for trading:

Arcelor Mittal (MT) Raised to Hold at Citigroup.
BB&T Corp. (BBT) Raised to Market Perform at FBR.
ev3 Inc. (EVVV) Started as Outperform at Baird.
Greenhill (GHL) Started as Outperform at William Blair.
MEMC Electronics (WFR) Raised to Buy at Citigroup.
Netezza (NZ) Started as Outperform at William Blair.
Petrobras Brasileiro (PBR) Raised to Buy at UBS.
Sybase (SY) Started as Outperform at Oppenheimer.
SunTrust (STI) Raised to Market Perform at FBR.

JON C. OGG

Posted on: July 10, 2009 – 6:24 am in Analyst Calls, , , , , , , , ,

Does Petrobras Need More Capital? (PBR)

Oil Well ImagePetroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, raised $1 billion in a new note offering this morning for its Petrobras International Finance Co.  Or did it?  We originally had this listed as being an offering of about $500 million earlier, yet now the offering may be as much as $1.2 billion.
Read More »

Posted on: July 1, 2009 – 3:30 pm in ADR, Bonds, Emerging Markets, Oil & Gas,

At $70 Oil, Major Oil Stocks Still Look Cheap (COP, XOM, CVX, MUR, PBR, PTR, VLO)

oil-well-image1We keep getting asked a single question from readers and from our own industry and professional contacts: Are Oil Stocks Cheap? There is a very simple answer in today’s markets: Oil stocks look very cheap (if oil is going to stay anywhere near $70.00).  Some of these are our top picks and some are incidental, but the reviewed stocks are ConocoPhillips (NYSE: COP), Exxon Mobil Corp. (NYSE: XOM), Chevron Corp. (NYSE: CVX), Murphy Oil Corporation (NYSE: MUR), Petroleo Brasileiro (NYSE: PBR), PetroChina Co. Ltd. (NYSE: PTR) and Valero Energy Corp. (NYSE: VLO).  By our measure, some of these major integrated oil and exploration and production stocks are undervalued by 10% to 25%.  Some may be even more undervalued than that in the large-cap and super-cap arenas.

Answering any question of whether a stock or any instrument is cheap does actually require a crystal ball that sees the future for it to be certain beyond a snapshot in time, but if oil stays around these levels then many of the major oil stocks still seem to have more room to run up.  Dare we call this value investing?  This is not a review of every single sector in the oil patch, as we are reviewing these stocks  in groups.
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Posted on: June 12, 2009 – 5:15 am in ADR, Buffett, Emerging Markets, Oil & Gas, Value Investing, , , , , , ,

Petrobras Seems The Winner in China’s $10 Billion Loan (PBR, SNP, XOM, CVX)

Money Stack ImageThe $10 billion loan from the China Development Bank to Brazil’s Petroleo Brasiliero SA, known as Petrobras (NYSE: PBR), has been finalized.  This deal has been in our pending file since late February.  Many of yesterday’s reports had this as a fresh deal, which technically it is and technically it isn’t.  Under the deal, Petrobras will supply China Petrochemical Corp., known as Sinopec (NYSE: SNP), with 150,000 barrels/d for the first year of the deal and then 200,000 barrels/d for the next nine years.

Read More »

Posted on: May 20, 2009 – 8:26 am in ADR, China, Emerging Markets, Oil & Gas, , , ,

Reviewing Emerging Oil Giants Petrobras, CNOOC, and PetroChina (PBR, CEO, PTR)

oil-well-image14Leading oil and gas industry news source, Platts, named Brazil’s national oil company Petroleo Brasileiro (NYSE:PBR), aka Petrobras, its hydrocarbon producer of the year for 2008. Platts cited Petrobras for its “sheer across-the-board excellence” in both management and operations.  By the looks of it, there are differences and similarities among emerging market oil giants such as China’s large CNOOC Ltd. (NYSE:CEO) and even PetroChina Co. Ltd. (NYSE: PTR).
Read More »

Posted on: April 29, 2009 – 9:15 am in ADR, China, Earnings, Emerging Markets, Oil & Gas, , ,

Top Analyst Downgrades (BJS, BUCY, BNI, INTU, JOYG,PBR, TKC, WFMI)

These are some of the top pre-market analyst downgrades we have seen early this Monday morning from Wall Street:

BJ Services (BJS) Cut to Market Perform at Wachovia.
Bucyrus (BUCY) Cut to Neutral at Baird.
Burlington Northern Santa Fe (BNI) Cut to Sell at Citigroup.
Intuit (INTU) Cut to Hold at Jefferies.
Joy Global (JOYG) Cut to Neutral at Baird.
Petroleo Brasileiro (PBR) Cut to Neutral at HSBC.
Turkcell (TKC) Cut to Neutral at UBS.
Whole Foods (WFMI) Cut to Sell at UBS.

JON C. OGG

Posted on: April 27, 2009 – 6:47 am in Analyst Calls, , , , , , , ,

Chairman Mao Gets Into The Car Business (SNP)(PBR)(TM)(HMC)(GM)(RTP)

oil8The Chinese government has become more aggressive about buying foreign assets.  Chinese leaders recently said they would begin to make investments in Europe through their sovereign wealth fund. The country has capital available to buy assets driven down by the recession.

Chinalco, China’s huge metals company, recently spent $19.5 billion buying into global mining giant Rio Tinto (RTP). Rio needed the money to decrease its debt. There is speculation that China wanted to secure access to minerals. To that extent, the investment was a “strategic” one on China’s part. The Australian government considered blocking the deal but did not. Perhaps debt-laden Rio made the case that it needed the money too much to help it through the economic downturn.

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Posted on: April 20, 2009 – 4:00 am in Autos, Mergers and Buy Outs, Oil & Gas, Politics, , , , , ,

Top 10 Analyst Upgrades & Downgrades (AMGN, COP, DD, GENZ, GS, MON, MOS, BBY, PBR, VMW)

These are ten of the top impact research calls with upgrades and downgrades from Wall Street early this Friday morning:

Amgen (AMGN) Raised to Overweight at JPMorgan.
ConocoPhillips (COP) Raised to Buy at Goldman Sachs.
DuPont (DD) Started as Buy at UBS.
Genzyme (GENZ) Started as Buy at Piper Jaffray.
Goldman Sachs (GS) Started as Outperform at FBR.
Monsanto (MON) Started as Buy at UBS.
Mosaic (MOS) Started as Buy at UBS.
Best Buy (BBY) Removed from Goldman Sachs Conviction Buy List, but maintained as “Buy.”
Petrobras (PBR) Cut to Hold at Deutsche Bank.
VMware (VMW) Cut to Sell at Auriga.

JON C. OGG
March 27, 2009

Posted on: March 27, 2009 – 6:59 am in Analyst Calls, , , , , , , , , ,

DryShips Scores Petrobras Award (DRYS, PBR, RDS-A)

dryship-imageDryShips Inc. (NASDAQ: DRYS) has just announced a new contract order that is sending shares soaring.  The company’s Ocean Rig ASA subsidiary has received a ‘letter of award’ from Petrobras (NYSE: PBR) for a 3-year period employment contract for exploration drilling in the Black Sea.   The size of the award is significant on the surface.

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Posted on: March 19, 2009 – 7:53 am in Oil & Gas, Trading Alert, Transports, , ,

Top 10 Analyst Upgrades & Downgrades (AMZN, BBY, KO, GENZ, HAL, IPI, RIG, AFL, PBR, VE)

These are some of the top pre-market early bird analyst upgrades and downgrades from Wall Street this Monday morning:

  • Amazon.com (AMZN) Raised to Buy at Piper Jaffray.
  • Best Buy (BBY) Raised to Outperform at William Blair.
  • Coca-Cola (KO) Raised to Outperform at Credit Suisse.
  • Genzyme (GENZ) Raised to Buy at Deutsche Bank.
  • Halliburton (HAL) Raised to Outperform at FBR.
  • Intrepid Potash (IPI) Raised to Outperform at Oppenheimer.
  • Transocean (RIG) Raised to Outperform at FBR.
  • AFLAC (AFL) Cut to Sell at UBS.
  • Petrobras (PBR) Cut to Neutral at JPMorgan.
  • Veolia Environment SA (VE) Cut to Underperform at Credit Suisse.

JON C. OGG

Posted on: March 9, 2009 – 6:42 am in Analyst Calls, , , , , , , , , ,

Petrobras to Get Chinese Dollars (PBR, SNP, XOM, CVX)

The China Development Bank appears to be following the maxim of uber-capitalist Warren Buffet: Be fearful when others are greedy, and be greedy when others are fearful. This week the Chinese announced an agreement to lend $25 billion to Russia for the construction of a crude oil pipeline that would provide them 300,000 barrels/day of crude for 20 years.  Now, the bank has announced an agreement to lend $10 billion to Petroleo Brasiliero, aka Petrobras, (NYSE:PBR) to develop the massive Santos basin discovery offshore Brazil.

Read More »

Posted on: February 20, 2009 – 9:32 am in ADR, China, Emerging Markets, Oil & Gas, , , ,

Top Pre-Market Analyst Downgrades (ASML, GSIC, LVLT, NYX, PACR, PBR, PT, QGEN, SAP, TGH)

burning-money-pic7These are this Thursday’s early bird analyst downgrades and negative research calls with more than two hours until the market opens:

ASML (ASML) Cut to Neutral at B of A Merrill Lynch.
GSI Commerce (GSIC) Cut to Hold at Jefferies.
Level 3 Communications (LVLT) Cut to Underweight at JPMorgan.
NYSE Euronext (NYX) Cut to Hold at Citigroup.
Pacer International (PACR) Cut to Underperform at Baird.
Petrobras (PBR) Cut to Hold at Citigroup.
Portugal Telecom (PT) Cut to Underweight at Morgan Stanley.
Qiagen (QGEN) Cut to Neutral at Credit Suisse.
SAP (SAP) Cut to Underperform at FBR.
Textainer (TGH) Cut to Market Perform at Wachovia.

JON OGG

February 12, 2009

Posted on: February 12, 2009 – 7:22 am in Analyst Calls, , , , , , , , , , , ,

Is Oil’s Down Escalator Finally Heading Up? (XOM, COP, CEO, PBR, REP, PTR)

Oil_well_logo_2Oil company share prices have been in near free fall for the past six months. Exxon Mobil (NYSE:XOM) is off about 20% from its 52-week highs and ConocoPhillips (NYSE: COP) is off about 50%, but both are doing better than a basket of emerging economy stocks. CNOOC Ltd (NYSE:CEO) is down 68% for the past 52-weeks, PetroBras (NYSE:PBR) is off 77%, Repsol YPF (NYSE:REP) is down 57%, and PetroChina (NYSE:PTR) is off 64%. The drop in crude prices, down more than 65% since the July peak, is the main culprit.  But even as crude prices continue to slide, share prices for these companies are beginning to make a comeback.

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Posted on: November 24, 2008 – 10:47 am in Emerging Markets, Oil & Gas, , , , , ,

Petrobras Gets Analyst Greenlight After 70% Drop (PBR)

Petrobras_logoThe ADR’s of Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, have gotten a boost today.  This is not just in conjunction with the rally seen in other oil and gas stocks from earnings.  Morgan Stanley has initiated coverage of the Brazilian oil giant  with an "overweight" rating and a $38.00 price target. 

Read More »

Posted on: October 29, 2008 – 1:44 pm in Analyst Calls, Emerging Markets, Oil & Gas,

Emerging Oil Giants Face Harder Times Than US Oil Giants (XOM, CVX, PBR, PTR, CEO)

Oil_well_logo_2It’s no secret that share prices for big oil are down over the past 12 months. These oil giants have fallen sharply from highs when oil was in the $140’s per barrel.  Exxon Mobil (NYSE:XOM) is off about 18% and Chevron (NYSE:CVX) is off about 25%. They are not doing as bad as emerging market oil giants such as Petro Brasileiro (NYSE:PBR),or Petrobras, nor as poorly as China’s CNOOC Ltd. (NYSE:CEO) and PetroChina (NYSE:PTR).

Read More »

Posted on: October 6, 2008 – 10:37 am in Oil & Gas, , , , ,