Petrobras
About: Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production of oil and gas in Brazilian offshore fields. Production in 2023 was 2.8 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.9 billion boe (85% oil). At end-2023, Petrobras operated 10 refineries in Brazil with capacity of 1.8 million barrels a day and distributes refined products and natural gas throughout Brazil.
Employees: 40,213
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
9% more repeat investments, than reductions
Existing positions increased: 173 | Existing positions reduced: 159
0.96% less ownership
Funds ownership: 10.0% [Q1] → 9.04% (-0.96%) [Q2]
3% less funds holding
Funds holding: 490 [Q1] → 475 (-15) [Q2]
14% less capital invested
Capital invested by funds: $11.3B [Q1] → $9.75B (-$1.58B) [Q2]
18% less first-time investments, than exits
New positions opened: 68 | Existing positions closed: 83
45% less call options, than puts
Call options by funds: $511M | Put options by funds: $927M
45% less funds holding in top 10
Funds holding in top 10: 22 [Q1] → 12 (-10) [Q2]
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
4 analyst ratings
JP Morgan Rodolfo Angele 22% 1-year accuracy 2 / 9 met price target | 34%upside $19 | Overweight Upgraded | 25 Sept 2024 |
Morgan Stanley Bruno Montanari 25% 1-year accuracy 1 / 4 met price target | 41%upside $20 | Overweight Upgraded | 26 Aug 2024 |
UBS Luiz Carvalho 50% 1-year accuracy 2 / 4 met price target | 28%upside $18.10 | Buy Maintained | 19 Aug 2024 |
Goldman Sachs Bruno Amorim 25% 1-year accuracy 3 / 12 met price target | 18%upside $16.70 | Buy Maintained | 13 Aug 2024 |
Financial journalist opinion
Based on 32 articles about PBR published over the past 30 days
