Petroleo Brasileiro S.A. Petrobras ADR (NYSE: PBR)’s Potential for Significant Price Increase in the Near Future

In the last trading session, 29.31 million Petroleo Brasileiro S.A. Petrobras ADR (NYSE:PBR) shares changed hands as the company’s beta touched 1.60. With the company’s per share price at $16.10 changed hands at $0.06 or 0.37% during last session, the market valuation stood at $59.91B. PBR’s last price was a discount, traded about -2.8% off its 52-week high of $16.55. The share price had its 52-week low at $8.61, which suggests the last value was 46.52% up since then. When we look at Petroleo Brasileiro S.A. Petrobras ADR’s average trading volume, we note the 10-day average is 16.57 million shares, with the 3-month average coming to 18.96 million.

Analysts gave the Petroleo Brasileiro S.A. Petrobras ADR (PBR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.77. If we narrow down to specifics, the data shows that 0 out of 13 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 3 recommended PBR as a Hold, 8 felt it is a Buy and 1 rated the stock as Underweight. Petroleo Brasileiro S.A. Petrobras ADR’s EPS for the current quarter is expected to be $0.92.

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Petroleo Brasileiro S.A. Petrobras ADR (NYSE:PBR) trade information

Instantly PBR was in green as seen at the end of in last trading. With action 3.74%, the performance over the past five days has been green. The jump to weekly highs of 16.38 on Monday, 11/20/23 added 0.37% to the stock’s daily price. The company’s shares are showing year-to-date upside of 55.84%, with the 5-day performance at 3.74% in the green. However, in the 30-day time frame, Petroleo Brasileiro S.A. Petrobras ADR (NYSE:PBR) is -0.68% down. Looking at the short shares, we see there were 32.6 million shares sold at short interest cover period of 1.98 days.

The consensus price target for the stock as assigned by Wall Street analysts is $16.76, meaning bulls need an upside of 3.94% from its current market value. According to analyst projections, PBR’s forecast low is $7.73 with $21.20 as the target high. To hit the forecast high, the stock’s price needs a -31.68% plunge from its current level, while the stock would need to tank 51.99% for it to hit the projected low.

Petroleo Brasileiro S.A. Petrobras ADR (PBR) estimates and forecasts

Data shows that the Petroleo Brasileiro S.A. Petrobras ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 43.69% over the past 6 months, a -26.65% in annual growth rate that is considerably higher than the industry average of -32.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Petroleo Brasileiro S.A. Petrobras ADR will fall -26.40%, while the growth in revenue is estimated to hit -26.10% for the next quarter. Year-over-year growth is forecast to reach -20.40% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $27.87 billion. 1 analysts are of the opinion that Petroleo Brasileiro S.A. Petrobras ADR’s revenue for the quarter ending Mar 2024 will be $26.16 billion. The company’s revenue for the corresponding quarters a year ago was $30.15 billion and $26.84 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -7.60%. The estimates for the next quarter sales put growth at -2.50%.

The 2023 estimates are for Petroleo Brasileiro S.A. Petrobras ADR earnings to decrease by -33.43%.

PBR Dividends

Petroleo Brasileiro S.A. Petrobras ADR is expected to release its next quarterly earnings report in December. The 14.73% annual yield figure for the share gives it an annual dividend of 2.37. It is important to note, however, that the 14.73% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Petroleo Brasileiro S.A. Petrobras ADR (NYSE:PBR)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.00% of Petroleo Brasileiro S.A. Petrobras ADR shares while 21.38% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 21.38%. There are 21.38% institutions holding the Petroleo Brasileiro S.A. Petrobras ADR stock share, with GQG Partners LLC the top institutional holder. As of Jun 29, 2023, the company held 5.67% of the shares, roughly 211.01 million PBR shares worth $2.92 billion.

FMR, LLC holds the second largest percentage of outstanding shares, with 1.54% or 57.35 million shares worth $793.22 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jul 30, 2023 were Goldman Sachs GQG Partners International Opportunities Fund and Advisors Inner Circle Fund III-GQG Partners Emerging Markets Equity Fd. With 48.71 million shares estimated at $715.05 million under it, the former controlled 1.31% of total outstanding shares. On the other hand, Advisors Inner Circle Fund III-GQG Partners Emerging Markets Equity Fd held about 1.19% of the shares, roughly 44.26 million shares worth around $612.18 million.

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