Petroleo Brasileiro S.A. or Petrobras (PBR Quick QuotePBR ) recently announced that it completed the non-binding phase of the sale of its full 27.88% ownership holding in Deten Qumica S.A. (Deten) and now began the project’s binding phase. Prospective buyers who qualified for this phase will get a process letter outlining the divestiture process in full including rules for due diligence and the submission of binding offers.
Earlier in June, the company commenced the sale process of its full ownership in the petrochemical company Deten. Per management, the plan was in sync with the energy player’s strategy to reduce expenses and enhance its capital allocation for maximizing shareholder value.
Located in the Camaçari industrial complex in Bahia, Deten petrochemical is the sole national manufacturer of Linear Alkylbenzene (LAB) and involved in manufacturing and selling major raw ingredients used in the production of biodegradable liquid and powder detergents.
Hot Energy Stocks To Buy Right Now: SEACOR Holdings, Inc.(CKH)
SEACOR Holdings Inc. owns, operates, invests, and markets equipment in the offshore oil and gas, shipping, and logistics industries. The companys Offshore Marine Services segment operates support vessels to deliver cargo and personnel to offshore installations; handle anchors and mooring equipment; carry and launch remote operated vehicles; and tow rigs. This segment also provides accommodations for technicians and specialists, as well as standby safety support and emergency response services; and operates lift boats supporting well intervention, work-over, decommissioning, and diving operations, as well as operates vessels used to move personnel and supplies to offshore wind farms. Its Inland River Services segment operates river transportation equipment for moving agricultural and industrial commodities, and petroleum and chemical products; and operates and invests in multi-modal terminal facilities, as well as operates barge fleeting locations; service facilities; and transshipment terminal. The companys Shipping Services segment owns product tankers for the United States coastwise trade of crude oil, petroleum, and chemical products, as well as provides harbor tugs servicing vessels docking; and invests in very large gas carriers, as well as offers liner and short-sea transportation. This segment is also involved in the terminal support and bunkering, and articulated tug and dry-bulk barge operations, as well as offers offshore tug and technical ship management services. Its Illinois Corn Processing segment produces alcohol used in the food, beverage, industrial, and petrochemical markets; dried distillers grains with solubles; and non-food grade corn oil for feedstock in biodiesel production. The companys Other segment engages in emergency and crisis, agricultural commodity trading and logistics, and lending and leasing activities, as well as industrial aviation services businesses. The company was founded in 1989 and is based in Fort Lauderdale, Florida.
Advisors’ Opinion:
- [By ]
B. Riley started coverage on shares of Spark Networks (NYSEAMERICAN:LOV) in a research note released on Tuesday morning, FinViz reports. The brokerage issued a buy rating and a $6.00 price objective on the technology company’s stock.
Hot Energy Stocks To Buy Right Now: SK TELECOM ADR EACH REP 1/9 KRW500(CIT)
SK Telecom Co., Ltd. provides wireless telecommunications services using code division multiple access (CDMA) and wide-band CDMA technologies. It offers cellular voice services, such as wireless voice transmission services; and wireless global roaming services. The company also provides wireless data transmission services, such as wireless Internet access services, which allow subscribers to access online digital contents and services, as well as to send and receive text and multimedia messages. In addition, it offers broadband Internet and fixed-line telephone services, such as video-on-demand and IP TV services; and local, domestic, and international long-distance fixed-line telephone services to residential and commercial subscribers. Further, the company provides wireless entertainment-related contents and services, wireless finance-related contents and m-commerce services, and wireless news and search services; and international calling services, such as direct-dial, pre and post paid card calling services, bundled services for corporate customers, voice services using Internet protocol, Web-to-phone services, and data services. Additionally, it offers satellite digital media broadcasting services; telematics services; and fixed-line and online community portal services. The company also operates 11th Street, an online shopping mall; and T Store, an online open marketplace for mobile applications. As of March 31, 2011, SK Telecom Co. had 26 million wireless subscribers. It has strategic alliances with Bridge Alliance; Orange SA; Telecom Italia Mobile S.p.A.; T-Mobile International AG & Co; and Teliasonera Mobile Networks AB. The company was formerly known as Korea Mobile Telecommunications Co., Ltd. and changed its name to SK Telecom Co., Ltd. in March 1997. SK Telecom Co., Ltd. was founded in 1984 and is based in Seoul, South Korea.
Advisors’ Opinion:
- [By Joseph Griffin]
CariNet (CURRENCY:CIT) traded 3.9% lower against the US dollar during the 24-hour period ending at 0:00 AM ET on February 27th. During the last seven days, CariNet has traded down 13.3% against the US dollar. One CariNet token can currently be bought for approximately $0.0044 or 0.00000115 BTC on cryptocurrency exchanges including OKEx, BCEX and FCoin. CariNet has a total market capitalization of $0.00 and $34,412.00 worth of CariNet was traded on exchanges in the last 24 hours.
- [By Joseph Griffin]
Get a free copy of the Zacks research report on CIT Group (CIT)
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- [By Logan Wallace]
Here are some of the news articles that may have effected Accern’s analysis:
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We’re winning the war on CIT heists, say police (citizen.co.za) Oppenheimer Equities Analysts Reduce Earnings Estimates for CIT Group (CIT) (americanbankingnews.com) Did Grandview police use their crisis training before fatally shooting man with sword? (kansascity.com) CIT Group (CIT) Given Consensus Recommendation of “Hold” by Brokerages (americanbankingnews.com) CIT Adds New Executive to Communications & Technology Finance Team (abladvisor.com)
Shares of CIT Group traded up $0.66, reaching $51.56, during midday trading on Friday, according to Marketbeat.com. The stock had a trading volume of 37,528 shares, compared to its average volume of 1,228,943. CIT Group has a one year low of $43.25 and a one year high of $56.14. The company has a market cap of $6.42 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.28. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.09 and a quick ratio of 1.09.
- [By Lee Jackson]
This one may be somewhat more off the radar, but it is a top pick at Oppenheimer. CIT Group Inc. (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of March 31, 2018. Its principal bank subsidiary, CIT Bank, has approximately $30 billion of deposits and more than $40 billion of assets.
