A Brazilian court has ruled against Chevron Corporation (NYSE:CVX), the second-biggest of the U.S.-based major oil companies, and Transocean LTD (NYSE:RIG) to stop their operations in the country in 30 days while investigations of two oil spills are conducted.
The court provided an e-mailed statement in which each company is held liable to pay 500 million reais that equals $243 million for each day it fails to fulfill the order. The court ordered to continue the halt until the federal prosecutors office, which is the country’s oil regulator and environmental agencies complete investigating oil leakages seen in November and March.
Petroleo Brasileiro SA (ADR) (NYSE:PBR)
Petroleo Brasileiro, Brazilian state-run energy giant, will spend $5.6 billion through 2016 to increase productivity at aging offshore oil fields.
Late Friday, the federal oil company declared the plan to augment effectiveness at the offshore Campos Basin. The investments were included in last month’s $237 billion investment plan for 2012 to 2016.
Petrobras aspires to improve competence to historic levels of about 90%, up from 72% in the first quarter.
In last trading session, Petroleo Brasileiro SA (ADR) (NYSE:PBR) slipped -4.06% and closed at $19.63 with the total traded volume of 18.52 million shares, more than the average volume of 15.66 million. Stock price 52 weeks high was $34.51 and 52 weeks low price was $17.27.
ENSCO PLC (NYSE:ESV)
ENSCO PLC (NYSE:ESV) fell -3.74% and closed at $54.33 with the total traded volume of 9.72 million shares in last trading session. ESV is trading above the 50 day moving average and higher than the 200 day moving average.
Financial institutions traded 18 block trades on shares of Ensco. Further analysis into the trading activity disclosed that 379,500 shares were bought and 319,000 shares were sold. The bought/sold ratio for shares of ESV is 1.19, representing a constructive net cash flow of $3,184,000 into the stock.
SandRidge Energy Inc. (NYSE:SD)
SandRidge Energy Inc. (NYSE:SD) declined -3.12% with the closing price of $6.82. The overall volume in the last trading session was 9.52 million shares. Its fifty two week range was $4.55-$12.14. The total market capitalization remained $3.34 billion.
SD is ahead of its 52 week low with 49.89% and its last month price volatility remained 3.86%. Its beta coefficient was 2.10 with a target price of $9.75. Company’s current year earnings per share grew with 7.54% while the five year EPS growth rate was +3.73%.