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Petroleo Brasileiro SA Petrobras ADR PBR

Morningstar Rating
$14.46 −0.01 (0.07%)
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Company Report

Petrobras Prioritizes Increased Spending Over Dividends in Latest Strategic Plan

With its latest five-year plan, Petrobras meaningfully increased spending levels as it incorporates investments for the energy transition. While the latest plan is by no means a return to the profligate spending of a decade ago that first placed Petrobras in jeopardy, it is—along with a reduction in the payout ratio—a departure from the capital discipline of the last few years that resulted in a healthier balance sheet and large shareholder payouts.

Price vs Fair Value

PBR is trading at a 57% premium.
Price
$14.47
Fair Value
$56.60
Uncertainty
Very High
1-Star Price
$55.60
5-Star Price
$5.50
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

The size and quality of the presalt reservoirs offer Petrobras a low-cost supply that is unrivaled by any other global integrated firm.

Bears

Government control implies financial or strategic decisions benefit the country but could harm shareholders. It also results in an incestuous relationship, as the past corruption scandal demonstrates.

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News

Trading Information

Previous Close Price
$14.47
Day Range
$14.2814.50
52-Week Range
$13.1817.91
Bid/Ask
$14.43 / $14.44
Market Cap
$93.24 Bil
Volume/Avg
13.4 Mil / 17.8 Mil

Key Statistics

Price/Earnings (Normalized)
3.77
Price/Sales
0.95
Dividend Yield (Trailing)
14.30%
Dividend Yield (Forward)
14.30%
Total Yield
15.10%

Company Profile

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.
Sector
Energy
Industry
Oil & Gas Integrated
Stock Style Box
Large Value
Total Number of Employees
40,213

Competitors

Valuation

Metric
PBR
XOM
CVX
Price/Earnings (Normalized)
3.7713.1412.48
Price/Book Value
1.142.211.77
Price/Sales
0.951.401.49
Price/Cash Flow
2.098.327.62
Price/Earnings
PBR
XOM
CVX

Financial Strength

Metric
PBR
XOM
CVX
Quick Ratio
0.751.020.81
Current Ratio
1.081.381.23
Interest Coverage
9.3454.0760.29
Quick Ratio
PBR
XOM
CVX

Profitability

Metric
PBR
XOM
CVX
Return on Assets (Normalized)
14.11%9.46%9.02%
Return on Equity (Normalized)
37.08%17.46%14.52%
Return on Invested Capital (Normalized)
23.09%14.30%12.92%
Return on Assets
PBR
XOM
CVX
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Oil & Gas Integrated Industry Comparables

1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Exxon Mobil Corp
XOM
LwhmdmnhTwgtpc$515.9 Bil
Chevron Corp
CVX
XtqbwpjslkKcndvs$283.6 Bil
PetroChina Co Ltd Class H
PCCYF
Gvyy$231.9 Bil
Shell PLC
RYDAF
Hlkv$223.1 Bil
Shell PLC ADR (Representing - Ordinary Shares)
SHEL
RxzbvfypFbzs$223.1 Bil
TotalEnergies SE ADR
TTE
XrxklhzmMbgw$156.1 Bil
BP PLC ADR
BP
XghwyrplBjwq$96.5 Bil
Equinor ASA ADR
EQNR
GsnxfyfZhd$72.3 Bil
Eni SpA ADR
E
RsvnxrwsSbyvf$48.4 Bil

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