PBR Stock Recent News
PBR LATEST HEADLINES
Petrobras (PBR) closed at $14.66 in the latest trading session, marking a +0.55% move from the prior day.
PBR's new plan places a higher emphasis on its upstream operations in a bid to rebuild reserves.
RIO DE JANEIRO , Sept. 16, 2024 /PRNewswire/ -- Petróleo Brasileiro S.A.
Petrobras has achieved strong production and financial results, hitting 2.8 million barrels/day and generating $10 billion in quarterly operating cash flow. The company has significantly reduced its net debt to $46.2 billion and maintains a robust cash position, enhancing financial stability. Petrobras offers impressive shareholder returns with a double-digit dividend yield, supported by strong free cash flow and substantial dividend payments.
RIO DE JANEIRO , Sept. 10, 2024 /PRNewswire/ -- Petróleo Brasileiro S.A.
PBR expedites its re-entry into the fertilizer industry, considering a $800 million investment in a plant to enhance Brazil's agricultural sector.
PBR, in partnership with SHEL, signs 26 concession contracts for several blocks located in the Pelotas Basin, off the southern coast of Brazil.
RIO DE JANEIRO , Sept. 3, 2024 /PRNewswire/ -- Petróleo Brasileiro S.A.
I maintain a "Hold" rating on Petrobras stock due to ongoing political and geographical risks, despite its undervaluation and strong FCF generation capacity. Petrobras's strategic focus on pre-salt deepwater resources has improved profitability, but recent declines in ROCE and profitability raise concerns. Increased CapEx plans and challenges in obtaining environmental licenses could hinder future growth, especially if oil prices fall or remain flat.
PBR remains a compelling Buy due to its rich forward dividend yields, outperforming its oil/ gas peers and the US Treasury Yields. If anything, the state-run status, the country's volatile political scene, and the numerous leadership changes have contributed to the stock's discounted prices/ valuations. As a result, investors should not shy away from PBR's volatility, since it is part and parcel of its investment thesis.