Análise financeira de companhias de serviço da indústria do petróleo

Abstract

This study aims to determine the performance of three large services companies in the petroleum industry by means of their economic and financial indicators, as well as to compare if these indicators reflect the market reality due to the respective companies' stock prices and the price of the barrel of oil over the period analyzed (2009 to 2016). The time interval chosen comprises the year following the subprime crisis, going through a time of expansion of exploratory activities until the crisis period reaches the oil industry, between 2014 and 2016. For the development of this work, the Consolidated Statements of Comprehensive Income (Loss) and Balance Sheet reports contained in the respective annual financial reports of the companies were used as data source. The performance indicators were grouped according to the following points of view: management, owners and creditors. Subsequently, a descriptive analysis was performed regarding the behavior of these indicators and Spearman’s correlation analysis was used to verify the existence of a relationship with the market variables. The results obtained showed coherence between the moments experienced by the market in the analyzed period and the behavior of performance indicators. There was also a need to establish a more robust statistical model that better interprets the relationship between indicators and market variables. Even so, it was concluded that economic and financial indicators can be used to better understand the scenarios experienced, thus making them useful for decision making by service companies.