For Immediate Release
Chicago, IL – April 18, 2012 – Zacks.com announces the list of
stocks featured in the Analyst Blog. Every day the Zacks Equity
Research analysts discuss the latest news and events impacting
stocks and the financial markets. Stocks recently featured in the
blog include Petrobras ( PBR),
ExxonMobil Corp. ( XOM), PetroChina
Co. Ltd. ( PTR), Royal Dutch Shell
plc ( RDS.A) and VeriFone
Holdings ( PAY).
Get the most recent insight from Zacks Equity Research with the
free Profit from the Pros newsletter:
http://at.zacks.com/?id=5513
Here are highlights from Tuesday’s Analyst
Blog:
Petrobras Finds More Santos Oil
Barely a few days after announcing the successful drilling of
the extension exploratory well in the Iara Evaluation Area of
Brazil’s Santos Basin, Petroleo Brasileiro
S.A. or Petrobras ( PBR)
encountered an offshore reserve of fine quality oil, near the Lula
field in the same basin.
Petrobras drilled the well 1-RJS-689A (1-BRSA-925A RJS),
commonly known as Dolomita Sul, in Block BM-S-42, 177 km off the
coast of Rio de Janeiro State and at 1,747 meters deep waters.
Petrobras, which is the sole owner of the concession, confirmed
the discovery via oil sampling at the carbonate levels in the
pre-salt layers of the block. The company believes that this find
holds a lot of promise and intends to conduct further drilling to
estimate the total potential of the reservoirs.
Headquartered in Rio de Janeiro, Petrobras is the largest
integrated energy firm in Brazil, dominating the country’s energy
sector. The company operates in six segments: Exploration and
Production, Refining, Transportation and Marketing, Distribution,
Gas and Power, Biofuels and International.
We have a very positive medium- to long-term outlook on
Petrobras thanks to its encouraging portfolio of investments,
particularly in Brazil’s pre-salt reservoirs that lie below the
Espírito Santo, Campos and Santos basins in deep and ultra-deep
water. The company is the operator in most of these exploration
areas, and holds interests in them ranging from 20% to 100%.
We also appreciate the company’s consistent endeavors to dig new
oil reserves across Brazil. Mid last month, Petrobras confirmed the
discovery of superior quality crude oil in the Tupi Northeast
pre-salt region of the Santos Basin. The company also hit a
hydrocarbon accumulation in the pre-salt layer in block BM-C-33,
south of Campos Basin, in early March.
However, we expect Petrobras to perform on par with the broader
industry and other energy majors such as ExxonMobil
Corp. ( XOM), PetroChina Co.
Ltd. ( PTR) and Royal Dutch Shell
plc ( RDS.A) in the coming quarters. Hence, we
maintain a long-term Neutral recommendation on the stock.
VeriFone Downgraded to Neutral
We recently downgraded our recommendation to Neutral from
Outperform on VeriFone Holdings (
PAY).
VeriFone continues to impress backed by strategic acquisitions
and a growing high margin services mix in total revenues.
This high margin services business is being propelled by new
offerings such as London taxi, Secure PumpPay and mobile payments
growth.
The recent acquisitions of Hypercom and Point strengthen the
company’s foothold in Europe along with driving significant
synergies.
VeriFone recently completed the acquisition of Point, which
provides payment and gateway services and solutions for retailers
in Northern Europe. VeriFone intends to extend the Point platform
throughout the region and beyond, with the aim of creating the
world's largest infrastructure for rapid deployment of alternative
payments. With the addition of Point, management expects services
revenue will now exceed 30% of total revenue by the second quarter
of 2012. Management aims to create a services-based solutions
business, with 50% services revenue by the end of fiscal 2015. We
believe that this acquisition is a positive for the company, since
it expands the product portfolio as well as accelerates the mix of
revenues towards higher margin services revenues.
Meanwhile, VeriFone also completed the acquisition of Global Bay
Mobile Technologies, a leading provider of next-generation mobile
retail solutions.
However, earnings estimates have declined of late even though
earnings beat estimates in the first quarter of fiscal 2012.
Although VeriFone is growing through acquisitions, organic growth
remains a matter of concern. We believe that the integration of
Point operations is taking a toll on margins.
Want more from Zacks Equity Research? Subscribe to the free
Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and
qualitative analysis to help investors know what stocks to buy and
which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly
traded stocks. Our analysts are organized by industry which gives
them keen insights to developments that affect company profits and
stock performance. Recommendations and target prices are six-month
time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides
highlights of the latest analysis from Zacks Equity Research.
Subscribe to this free newsletter today:
http://at.zacks.com/?id=5517
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc.,
which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew
he could find patterns in stock market data that would lead to
superior investment results. Amongst his many accomplishments was
the formation of his proprietary stock picking system; the Zacks
Rank, which continues to outperform the market by nearly a 3 to 1
margin. The best way to unlock the profitable stock recommendations
and market insights of Zacks Investment Research is through our
free daily email newsletter; Profit from the Pros. In short, it's
your steady flow of Profitable ideas GUARANTEED to be worth your
time! Register for your free subscription to Profit from the Pros
at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the
performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook:
http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results.
Investors should always research companies and securities before
making any investments. Nothing herein should be construed as an
offer or solicitation to buy or sell any security.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
http://www.zacks.com
VERIFONE HLDGS (PAY): Free Stock Analysis Report
PETROBRAS-ADR C (PBR): Free Stock Analysis Report
PETROCHINA ADR (PTR): Free Stock Analysis Report
ROYAL DTCH SH-A (RDS.A): Free Stock Analysis Report
EXXON MOBIL CRP (XOM): Free Stock Analysis Report
To read this article on Zacks.com click here.
Petrochina (NYSE:PTR)
Historical Stock Chart
From Apr 2024 to May 2024
Petrochina (NYSE:PTR)
Historical Stock Chart
From May 2023 to May 2024