Petrobras (PBR)

• Market cap: $88.6B
• 1 day: -0.44%
• 5 days: 1.70%
• 1 month: 1.48%
• 3 months: -4.06%
• 6 months: -9.32%
• Year to date: 3.63%
• 1 year: -13.71%
• 5 years: -9.50%
• 10 years: 101.47%

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 Q3 regulatory filings by fund managers ($100M+ AUM)

8% more first-time investments, than exits

New positions opened: 65 | Existing positions closed: 60

7% more repeat investments, than reductions

Existing positions increased: 168 | Existing positions reduced: 157

0.08% more ownership

Funds ownership: 9.33% [Q2] → 9.4% (+0.08%) [Q3]

0% less funds holding

Funds holding: 480 [Q2] → 479 (-1) [Q3]

3% less capital invested

Capital invested by funds: $10.1B [Q2] → $9.8B (-$254M) [Q3]

17% less funds holding in top 10

Funds holding in top 10: 12 [Q2] → 10 (-2) [Q3]

41% less call options, than puts

Call options by funds: $509M | Put options by funds: $860M

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $17 24% upside
• Avg. target: $17 24% upside
• High target: $17 24% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

Goldman Sachs Bruno Amorim 56% 1-year accuracy 5 / 9 met price target

24% upside $17

Buy Maintained

12 Nov 2024