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Fly News Breaks for December 19, 2019
PBR, EC
Dec 19, 2019 | 06:34 EDT
JPMorgan analyst Rodolfo Angele upgraded Ecopetrol (EC) to Overweight from Neutral with a price target of $24, up from $20. The analyst has a more optimistic view on the company's ability to add reserves and notes that the shares have historically been penalized for low reserve life. Further, Angele has a more positive view on Ecopetrol's production in Colombia and he points out that JPMorgan is now more bullish on oil prices. Ecopetrol is best positioned in Latin America Oil & Gas to benefit from higher prices, Angele tells investors in a research note. Petrobras (PBR) remains the analyst's favorite name in the sector. He boosted his price target for those shares to $21 from $20.
News For EC;PBR From the Last 2 Days
PBR
Jan 18, 2022 | 12:05 EST
Bullish option flow detected in Petrobras with 32,561 calls trading, 1.9x expected, and implied vol increasing almost 2 points to 43.98%. Jan-22 13 calls and Jan-22 12.5 calls are the most active options, with total volume in those strikes near 21,300 contracts. The Put/Call Ratio is 0.14. Earnings are expected on February 23rd.