- Petrobras (PBR, Financial) meets its production target despite a slight Q1 dip in oil, gas, and liquids production.
- Exports decline by 10.4% year-over-year, while exports to Asia see a significant rise.
- Analysts suggest a potential 36.40% upside from the current stock price.
In the latest quarterly update, Petrobras (NYSE: PBR) disclosed a minor decline in its Q1 oil, gas, and liquids output, settling at 2.77 million barrels of oil equivalent per day. This production volume aligns well with the company's strategic goals. However, the Brazilian energy giant faced a 10.4% year-over-year decrease in total exports. Notably, exports to Asia, excluding China, climbed by an impressive 33%, attributed to a strategic agreement with Bharat Petroleum.
Wall Street Analysts' Insights
The outlook from 11 analysts reveals a promising average price target of $15.51 for Petroleo Brasileiro SA Petrobras (PBR, Financial), with projections ranging between a low of $13.00 and a high of $19.00. This average target suggests a notable potential upside of 36.40% from the current trading price of $11.37. Investors seeking more granular forecasts can access additional data on the Petrobras Forecast page.
The brokerage consensus for Petrobras reflects a positive sentiment, with an average recommendation of 2.2 across 13 firms. This rating indicates an "Outperform" status within the 1 (Strong Buy) to 5 (Sell) scale, highlighting a favorable outlook from industry experts.
GuruFocus Valuation Metrics
According to GuruFocus's GF Value calculation, Petrobras's estimated fair value stands at $11.30 for the coming year. This suggests a slight downside of 0.62% relative to the current stock price of $11.37. The GF Value metric is derived from analyzing historical trading multiples, past business growth, and future performance predictions. For a deeper dive into Petrobras's valuation metrics, visit the Petroleo Brasileiro SA Petrobras Summary page.
