PBR
Petróleo Brasileiro S.A. - Petrobras explores, produces, and sells oil and gas in Brazil and internationally. It operates through three segments: Exploration and Production; Refining, Transportation &...
PBR stock pitch - 2026-01-15
PBR (overview): Brazil's national oil co at $15, valued $20-25. 88% of Brazil's production, 80%+ earnings from E&P. Pre-salt fields produce 1.81M boe/d but exploration declining - only 2 of 17 wells in 2023 were productive. Political risk overstated; CEO fired for dividend but $2.67/share capacity at $80 Brent = 17.6% yield. 11.5yr reserves, $43.6B net debt vs $40B cash flow. Target $30.13 at $100 oil (100% upside). Prefer buying at $12-13 on fear.
(Public) Petrobras Primer
PBR is Brazil's national oil company, currently trading at ~$15 but valued at $20-25. It accounts for 88% of Brazil's oil and gas production. While there is political risk, it is overstated. The company has the capacity for a $2.67/share dividend at $80 Brent, which represents a 17.6% yield. The company has 11.5 years of reserves and $43.6B in net debt versus $40B in cash flow. The target price is $30.13 at $100 oil, representing 100% upside. It is preferable to buy at $12-13 on fear.