Zacks upgraded shares of Petrobras Argentina SA (NYSE:PZE) from a sell rating to a hold rating in a report published on Wednesday morning, Market Beat.com 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) traded down 0.76% during midday trading on Wednesday, reaching $6.57. 193,368 shares of the company’s stock traded hands. The company has a 50 day moving average of $5.40 and a 200 day moving average of $6.35. Petrobras Argentina SA has a 52-week low of $4.32 and a 52-week high of $7.90. The firm has a market cap of $1.32 billion and a PE ratio of 16.85.
Petrobras Argentina SA, (NYSE:PZE), is a Argentina-based integrated business mainly engaged in the energy sector. The Company’s actions are structured in four business segments: Oil and Gas Exploration and Production, such as the acquisition, exploration, exploitation and upkeep of petroleum and gas reserves; Refining and Supply, focusing in the production of fuels, lubricants and asphalts; Petrochemicals, containing the creation of styrene, polystyrene, bi-oriented polystyrene (BOPS) and synthetic rubber; along with Gas and Energy, providing gas distribution and electric energy generation and transmission. Through its subsidiaries and affiliates, the business has operations created in Austria, Bolivia, Brazil, Ecuador, Venezuela, Mexico, Bermuda, Spain and Argentina. YPF SA got the Company’s 38.45% participation in the concession contract UTE Puesto Hernandez do between both businesses for the exploration of the Puesto Hernandez region.document.write(‘‘);
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