Zacks Investment Research lowered shares of Petrobras Argentina SA (NYSE:PZE) from a hold rating to a sell rating in a research report sent to investors on Tuesday, MarketBeat reports.
According to Zacks, “PEREZ COMP -ADR leads a group of companies mainly engaged in the energy sector, this being its main business. Pecom will continue consolidating its position in the businesses where it participates, both in Argentina and abroad, based on the use of state-of-the art technology, the full development of its human resources and a high commitment towards environmental protection. “
Shares of Petrobras Argentina SA (NYSE:PZE) opened at 5.69 on Tuesday. The firm’s 50-day moving average price is $5.86 and its 200 day moving average price is $6.22. The company has a market cap of $1.15 billion and a P/E ratio of 14.97. Petrobras Argentina SA has a 52 week low of $4.32 and a 52 week high of $7.90.
Petrobras Argentina SA, (NYSE:PZE), is an Argentina-based integrated company primarily engaged in the energy sector. The Company’s activities are structured in four business segments: Oil and Gas Exploration and Production, including the acquisition, exploration, exploitation and maintenance of oil and gas reserves; Refining and Distribution, focusing in the production of fuels, lubricants and asphalts; Petrochemicals, comprising the production of styrene, polystyrene, bi-oriented polystyrene (BOPS) and synthetic rubber; as well as Gas and Energy, providing gas distribution and electric energy generation and transmission. Through its subsidiaries and affiliates, the Company has operations established in Argentina, Bolivia, Brazil, Ecuador, Venezuela, Mexico, Bermuda, Spain and Austria. YPF SA acquired the Company’s 38.45% participation in the concession contract UTE Puesto Hernandez executed between both companies for the exploration of the Puesto Hernandez area.
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