Petrobras (PBR)

• Market cap: $81.8B
• 1 day: 2.42%
• 5 days: 14.72%
• 1 month: 4.18%
• 3 months: -0.24%
• 6 months: -6.69%
• Year to date: -4.08%
• 1 year: -7.97%
• 5 years: 51.55%
• 10 years: 39.56%
• Sector: Energy
• Industry: Oil & Gas Integrated

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 2024 was 2.7 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: 41,778

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

40% more funds holding in top 10

Funds holding in top 10: 10 [Q4 2024] → 14 (+4) [Q1 2025]

26% more repeat investments, than reductions

Existing positions increased: 182 | Existing positions reduced: 144

22% more capital invested

Capital invested by funds: $8.96B [Q4 2024] → $10.9B (+$1.97B) [Q1 2025]

0.04% less ownership

Funds ownership: 9.35% [Q4 2024] → 9.31% (-0.04%) [Q1 2025]

5% less first-time investments, than exits

New positions opened: 58 | Existing positions closed: 61

3% less funds holding

Funds holding: 478 [Q4 2024] → 466 (-12) [Q1 2025]

18% less call options, than puts

Call options by funds: $542M | Put options by funds: $658M

Research analyst outlook

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

• Low target: $15.30 20% upside
• Avg. target: $15.30 20% upside
• High target: $15.30 20% upside

1 analyst rating

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

Jefferies Alejandro Demichelis

20% upside $15.30

Buy Upgraded

15 May 2025