Petrobras Argentina SA ADR (PZE) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Apr 27, 2016.
Petrobras Argentina SA ADR closed down -0.05 points or -0.75% at $6.6 with 1,65,840 shares getting traded on Friday. Post opening the session at $6.69, the shares hit an intraday low of $6.52 and an intraday high of $6.73 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Petrobras Argentina SA (formerly Petrobras Energia SA) is an Argentina-based integrated company primarily engaged in the energy sector. The Companys 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.