Para analistas, ação da Petrobras deve ser penalizada no médio prazo
Impactos do tombo desta segunda-feira ainda podem afetar a companhia por dois ou três meses A guerra de preços do petróleo deflagrada entre Rússia e Arábia Saudita chegou para "jogar gasolina no incêndio", define Priscila de Araújo, sócia da Hogan Investimentos, notando que o mundo já temia uma queda generalizada da demanda por commodities diante dos impactos econômicos do novo coronavírus.
Para ela, os fatos do fim de semana apenas pioram um quadro que já era complicado e o desempenho das ações da Petrobras só não será ainda pior porque a companhia passa por um importante processo de melhoria de gestão somado a um programa de desinvestimentos.
"Hoje, a Petrobras está muito mais preparada para enfrentar uma crise dessas, especialmente por possuir um nível de alavancagem muito mais saudável do que no passado. Mas, ainda assim, é preciso ter atenção, já que o preço do petróleo é o principal pilar de sua política de preços", avalia Priscila de Araújo.Divulgação/Petrobras
Ela calcula que os impactos do tombo visto nesta segunda-feira ainda podem afetar a companhia pelos próximos dois ou três meses, com resultados mais concretos sendo divulgados apenas nos balanços do segundo semestre. O maior risco, aponta, é que os barris de petróleo sigam sendo negociados com um preço muito abaixo do custo observado nas produtoras.
"Ainda vejo como um papel bom, mas, no curto prazo, essa briga toda gera uma reação em cadeia, especialmente porque o investidor olha muito para o volume de produção da Petrobras. No momento, não temos ideia de qual será a produção nos próximos meses", afirma.
Na avaliação de um analista do setor de óleo e gás de um grande banco que preferiu não ser identificado, um dos riscos enfrentados pela Petrobras é ajustar-se aos preços do petróleo no mercado internacional sem prejudicar sua produção e de olho nos riscos políticos.
"Num primeiro momento, pode parecer bom um combustível mais barato, mas isso tem impactos econômicos...
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