Petroleo Brasileiro S.A. - Petrobras (NYSE:PBR) was a big mover last session, as the company saw its shares rise nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 28.8% in the past one-month time frame.
The stock gained after the oil giant received news from its CEO Pedro Parente that he may consider staying with the company beyond Brazilian election.
The company has seen two negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Petrobras currently has a Zacks Rank #2 (Buy) while its Earnings ESP is negative.
Investors interested in the Oil and Gas - Integrated - Emerging Markets industry may consider China Petroleum & Chemical Corporation (NYSE:SNP) , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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