Brazil’s Finance Minister Guido Mantega turned down Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR)’s most recent requests for fuel-price increases and told management that delivering on production targets would ease its financial difficulties, said a person with direct knowledge of the talks on June 5. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) net profit margin is 6.80% and weekly performance is 4.68 %. On last trading day company shares ended up $14.76. Analysts mean target price for the company is $18.74. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) distance from 50-day simple moving average (SMA50) is 4.52%.
On May 6, 2014 Vantage Drilling Company (NYSEMKT:VTG) reports net income for the three months ended March 31, 2014 of $24.8 million or $0.07 per diluted share as compared to a net loss of $24.9 million or ($0.08) per diluted share excluding approximately $98.3 million of charges for the early retirement of debt, for the three months ended March, 31, 2013. Including the charges for the early retirement of debt for the three months ended March 31, 2013, the Company reported a net loss of $123.2 million or ($0.41) per diluted share. Vantage Drilling Company (NYSEMKT:VTG) shares advanced 2.37% in last trading session and ended the day on $1.73 . Gross Margin is 55.70% and its return on assets is 1.80%. Vantage Drilling Company (NYSEMKT:VTG) quarterly performance is -1.14%.
On June 6, Shares of Halcon Resources Corp (NYSE:HK) hit a new 52-week high during mid-day trading on Friday after Wunderlich raised their price target on the stock from $7.00 to $9.00, American Banking Newsreports. Wunderlich currently has a buy rating on the stock. Halcon Resources Corp traded as high as $6.47 and last traded at $6.38, with a volume of 2,869,076 shares changing hands. The stock had previously closed at $6.34. Halcon Resources Corp (NYSE:HK) shares moved up 0.95% in last trading session and was closed at $6.40, while trading in range of $6.32 – $6.47. Halcon Resources Corp (NYSE:HK) year to date (YTD) performance is 65.80%.
On June 6, 2014 Rowan Companies plc (NYSE:RDC)announced that one of its subsidiaries has entered into a two-year drilling contract for the Rowan Relentless, the fourth and final drillship in Rowan’s current construction program. The contract is with Freeport-McMoRan Oil & Gas LLC (“FM O&G”), a subsidiary of Freeport-McMoRan Copper & Gold Inc. (FCX), for operations in the U.S. Gulf of Mexico. The contract is expected to commence in the third quarter of 2015 and will add approximately $425 million to Rowan’s current contract backlog. Rowan Companies PLC (NYSE:RDC) ended the last trading day at $31.70. Company weekly volatility is calculated as 1.67% and price to cash ratio as 2.74. Rowan Companies PLC (NYSE:RDC) showed a positive weekly performance of 2.39%.
On Jun 3, 2014, Zack issued an updated research report on Transocean LTD (NYSE:RIG), an offshore drilling giant. The company’s state-of-the-art mobile offshore drilling fleet worldwide can function in the most challenging environments, such as the North Sea. However, we expect Transocean shares to remain soft until it fully works its way through claims related to the BP oil spill. Transocean LTD (NYSE:RIG) net profit margin is 15.90% and weekly performance is 0.33%. On last trading day company shares ended up $42.63. Analysts mean target price for the company is $41.45. Transocean LTD (NYSE:RIG) distance from 50-day simple moving average (SMA50) is 3.49%.
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