Basic Materials' Stocks Under Review -- Petroleo Brasileiro, Ensco, Noble, and Tesoro

Jul 19, 2016, 07:55 ET from Chelmsford Park SA

NEW YORK, July 19, 2016 /PRNewswire/ -- has initiated coverage on the following equities: Petroleo Brasileiro S.A.  (NYSE: PBR-A), Ensco PLC (NYSE: ESV), Noble Corp. PLC (NYSE: NE), and Tesoro Corp. (NYSE: TSO). Learn more about these stocks by accessing their free notes at:

The Basic Materials sector is slowly stabilizing after having hit rough waters at the start of the year. However, challenges, such as inconsistencies in supply and demand, economic slowdown, and low prices, are expected to continue hampering the industry growth. In light of these, takes a brief technical look at how each of the companies mentioned above have fared over the last few trading sessions. Register with us now for your free membership and more at:

Petroleo Brasileiro 

Rio de Janeiro, Brazil headquartered Petroleo Brasileiro S.A.' stock finished Monday's session 4.75% higher at $7.06 with a total volume of 10.41 million shares traded. The Company's shares have skyrocketed 45.27% in the past month, 38.16% over the previous three months, and 107.65% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 31.46% and 69.29%, respectively. Furthermore, shares of Petroleo Brasileiro, which operates as an integrated energy company in Brazil and globally, have a Relative Strength Index (RSI) of 72.32.

On June 24th, 2016, Petróleo Brasileiro revealed that its fully-owned subsidiary Petrobras Global Finance B.V. has amended the terms of its earlier announced offer to acquire all of PGF's 8.375% Global Notes due 2018 for cash. Petrobras extended the previously announced expiration date for the Offer to buy and consent solicitation to July 8th, 2016. The Company also increased the total consideration for each US$1,000 principal amount of 2018 Notes payable to holders of 2018 Notes to US$1,115 from US$1,100. Sign up and read the free notes on PBR-A at:


On Monday, shares in London, the U.K. headquartered Ensco PLC ended the session at $10.34, up 0.58%. The stock recorded a trading volume of 4.72 million shares. The Company's shares have gained 4.02% in the last one month and 2.69% in the previous three months. The stock is trading 1.45% above its 50-day moving average. Moreover, shares of Ensco, which provides offshore contract drilling services to the oil and gas industry globally, have an RSI of 51.54.

On June 29th, 2016, Ensco under the filing with SEC noted that it has reached an agreement with the customer of ENSCO 8503 to settle the customer's remaining obligation under the drilling services contract, which was scheduled to expire in August 2017, subject to certain conditions. As part of this agreement, Ensco received a total consideration of $20 million, approximately $5 million of which was a deposit previously provided to Ensco, pursuant to the contract. Additionally the customer agreed to put a $5 million deposit that can be applied as a credit toward certain future drilling services initiated by the customer in the Gulf of Mexico on or before March 31st, 2017. The complimentary note on ESV can be accessed at:

Noble Corp.  

London, the U.K. headquartered Noble Corp. PLC's stock ended yesterday's session 2.31% higher at $8.43 with a total volume of 7.99 million shares traded. Shares of the Company, which operates as an offshore drilling contractor for the oil and gas industry globally, are trading 3.96% below their 50-day moving average. The stock has an RSI of 48.19.

On June 22nd, 2016 Noble Corp. announced that it has received the full settlement value of $540 million from Freeport-McMoRan under the settlement and termination agreement between Noble, Freeport and Freeport's oil and gas subsidiary announced in May 2016. The company is also entitled to collect contingent payments of a total of $75 million depending on the average price of West Texas Intermediate crude oil (WTI) over a 12-month period, beginning June 30th, 2016. Register for free and access the latest notes on NE at:


At the close on Monday, San Antonio, Texas headquartered Tesoro Corp.'s stock recorded a trading volume of 1.67 million shares and finished 1.87% higher at $76.82. The Company's shares have gained 4.60% in the last one month. The stock is trading above its 50-day moving average by 0.61%. Furthermore, shares of Tesoro, which through its subsidiaries, operates as an independent petroleum refining, logistics, and marketing company in the U.S., have an RSI of 53.37.

On June 20th, 2016, Tesoro Corp. announced that its subsidiaries Tesoro Alaska Company and Tesoro Alaska Terminals have acquired certain wholesale marketing and logistics assets from Flint Hills Resources. The purchased assets are located in Anchorage and Fairbanks, Alaska. The properties include all of Flint Hills' wholesale fuel marketing contracts in Alaska; a 580,000-barrel in-service storage capacity terminal in Anchorage with a truck rack and rail loading capability; an airport terminal in Fairbanks; and a multi-year terminalling agreement at Flint Hills' North Pole terminal. The note on TSO is available for free at:


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