Petroleo Brasileiro S.A. Petrobras ADR (PBR): A Great Stock For Handling Current Market Conditions?

GQG Partners LLC recently announced the acquisition of new stake in Petroleo Brasileiro S.A. Petrobras ADR (NYSE:PBR). The institutional investor has increased its shareholding in the Energy company by 0.65% to 212.38 million shares with purchase of 1.37 million shares. This fresh investment now brings its stake to 5.71% valued currently at $3.39 billion. In addition, Schroder Investment Management Lt raised its holdings by 8.73 million to 17.34 million shares. And SPX Gestão de Recursos Ltda. has lifted its position by 88.89% or 6.19 million shares – to 13.16 million shares.

With over 9.94 million Petroleo Brasileiro S.A. Petrobras ADR (PBR) shares trading Friday and a closing price of $16.34 on the day, the dollar volume was approximately $162.35 million. The shares have shown a positive half year performance of 23.46% and its price on 01/12/24 gained nearly 0.55%. Currently, there are 3.72B common shares owned by the public and among those 3.72B shares have been available to trade.

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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for PBR have a consensus price objective of $39.48. The analysts have set the share’s price value over the next 12 months at a high of $48.00 and a low of $26.18. The average price target is 2.39% above its recent price level and an upside to the estimated low will see the stock gain 37.59% over that period. But an upside of 65.96% will see the stock hit the forecast high price target while median target price for the stock is $41.00.

The top 3 mutual fund holders in Petroleo Brasileiro S.A. Petrobras ADR are Goldman Sachs GQG Partners Intern, GQG Partners Emerging Markets Equ, and Baillie Gifford Emerging Markets. Goldman Sachs GQG Partners Intern owns 53.44 million shares of the company’s stock, all valued at over $853.41 million. The company bought an additional 4.73 million shares recently to bring their total holdings to about 1.44% of the shares outstanding. GQG Partners Emerging Markets Equ bought 3.87 million shares to see its total holdings expand to 48.13 million shares valued at over $768.65 million and representing 1.29% of the shares outstanding. Baillie Gifford Emerging Markets now owns shares totaling to 0.38% of the shares outstanding.

Shares of Petroleo Brasileiro S.A. Petrobras ADR (NYSE: PBR) opened at $16.42, up $0.17 from a prior closing price of $16.25. The company’s stock has a 5-day price change of -1.21% and 10.00% over the past three months. PBR shares are trading 2.32% year to date (YTD), with the 12-month market performance up to 60.53% higher. It has a 12-month low price of $9.17 and touched a high of $16.79 over the same period. PBR has an average intraday trading volume of 16.89 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.10%, 5.75%, and 19.43% respectively.

Institutional ownership of Petroleo Brasileiro S.A. Petrobras ADR (NYSE: PBR) shares accounts for 20.60% of the company’s 3.72B shares outstanding. Mutual fund holders own 11.91%, while other institutional holders and individual stakeholders account for 8.68% and — respectively.

It has a market capitalization of $60.80B and a beta (3y monthly) value of 1.54. The stock’s trailing 12-month PE ratio is 3.97, while the earnings-per-share (ttm) stands at $4.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.86% over the week and 1.89% over the month.

Analysts forecast that Petroleo Brasileiro S.A. Petrobras ADR (PBR) will achieve an EPS of $1.03 for the current quarter, $0.91 for the next quarter and $3.53 for 2024. The lowest estimate earnings-per-share for the quarter is $0.91 while analysts give the company a high EPS estimate of $1.07. Comparatively, EPS for the current quarter was $1.25 a year ago. Earnings per share for the fiscal year are expected to decrease by -32.15%, and -8.77% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Petroleo Brasileiro S.A. Petrobras ADR (PBR) as a “Strong Buy” at a consensus score of 1.80. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 4 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”

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