Today's noteworthy upgrades include: BioCryst (BCRX) upgraded to Buy from Neutral at BofA/Merrill... CoreLogic (CLGX) upgraded to Overweight from Equal Weight at Stephens... Gold Fields (GFI) upgraded to Neutral from Sell at Goldman... ING Groep (ING) upgraded to Buy from Neutral at BofA/Merrill... Lowe's (LOW) upgraded to Outperform at BMO Capital... Petrobras (PBR) upgraded to Hold from Reduce at HSBC... Popular (BPOP) upgraded to Equal Weight from Underweight at Morgan Stanley... RPC, Inc. (RES) upgraded to Neutral from Sell at Citi... Range Resources (RRC) upgraded to Outperform from Market Perform at Raymond James... Sunoco Logistics (SXL) upgraded to Overweight from Equal Weight at Morgan Stanley... Sunstone Hotel (SHO) upgraded on improved risk outlook at Wells Fargo.

Petrobras said it approved the remuneration to shareholders for the 2023 fiscal year. The total gross amount remaining to be distributed to shareholders, considering monetary adjustment to date, is equivalent to R$2.895 per share and will be paid in two equal installments in May and June.

Brazil's government proposes in a shareholders meeting that Petrobras pay out 50% of extra dividends relative to 2023 results, reported Reuters. Petrobras shares trading in New York are up fractionally in afternoon trading to $16.89.

Reports Q1 revenue $377.83M, consensus $390.92M. "Our results reflected a modestly weaker oilfield services activity environment with continued competitive pressures," stated Ben Palmer, RPC's president and CEO. "Our first quarter pressure pumping activity and utilization were below the fourth quarter. Pumping industry capacity remains high, particularly in the Permian, with bidding results and pricing conversations indicating a highly competitive market. We are optimistic that if current oil price momentum holds, our customers would steadily increase activity in the second half of 2024. Looking further out, as large E&P consolidation transactions close and non-core assets are potentially divested, development of this acreage could provide demand tailwinds."