Petrobras (ADR)
Develops Brazil's pre-salt fields and connects production to refining, logistics, gas and power.
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Profile
Produces crude oil and natural gas from offshore fields, led by Brazil's pre-salt provinces, and links that output to domestic refining, fuel logistics, gas and power. State control, oil prices, reservoir delivery, project execution, fuel-market policy and environmental regulation shape how the integrated system operates.
Develops crude oil, natural gas and natural-gas liquids through Exploration and Production, with Brazil's deepwater pre-salt fields at the center of the portfolio. Offshore engineering, reservoir development and large-project execution underpin this upstream system.
Processes and markets crude through Refining, Transportation and Marketing, connecting refineries, pipelines and terminals to Brazil's supply of transport and aviation fuels, LPG, naphtha, fuel oil and asphalt. Gas and Low Carbon Energies adds gas processing and trading, LNG, power generation, biofuels and renewable-energy activities.
Operates primarily as an integrated Brazilian energy chain while retaining selective international exploration. Federal government control influences leadership and strategic direction, while oil prices, reservoir delivery, project execution, refinery reliability, domestic fuel-market policy and environmental regulation remain structural dependencies.
Company facts
Categories
Key statistics
Year to date +55.5% · Average volume (30d) 16.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | Bradesco | Reiterate | Outperform | $19 | $20 | |
| May 21, 2026 | Banco Santander | Target | $11 | $24 | ||
| Apr 17, 2026 | B of A Securities | Upgrade | Neutral | Buy | ||
| Apr 15, 2026 | Bradesco | Target | $17 | $19 | ||
| Mar 26, 2026 | UBS | Target | $14.60 | $22 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $1.52 | $1.62 | +6.6% | $31.46B | $33.61B | +6.8% | −3.02% |
| May 11, 2026Q1 FY26 | $1.02 | $0.70 | −31.4% | $26.53B | $23.54B | −11.3% | −1.20% |
| Mar 5, 2026Q4 FY25 | $0.57 | $0.72 | +26.3% | $23.09B | $23.61B | +2.2% | +5.20% |
| Nov 6, 2025Q3 FY25 | $0.79 | $0.82 | +3.8% | $23.58B | $23.48B | −0.4% | +5.93% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $21.07B | $21.04B | $23.48B | $23.61B | $23.53B | $33.61B | |
| Gross profit | $10.39B | $10.01B | $11.22B | $9.78B | $10.60B | $19.49B | |
| Operating income | $7.37B | $5.47B | $7.73B | $7.20B | $7.37B | $14.07B | |
| Net income | $5.97B | $4.73B | $6.03B | $2.88B | $6.21B | $10.43B | |
| Diluted EPS | $0.92 | $0.72 | $0.94 | $0.45 | $0.96 | $1.62 | |
| Gross margin | 49.3% | 47.6% | 47.8% | 41.4% | 45.0% | 58.0% | |
| Operating margin | 35.0% | 26.0% | 32.9% | 30.5% | 31.3% | 41.9% |
Fiscal years (4-quarter sums)FY21 $83.58B · FY22 $124.47B · FY23 $103.87B · FY24 $91.42B · FY25 $89.20B
Balance sheet, Jun 30, 2026Cash & short-term investments $10.39B · Total debt $70.81B · Total assets $247.08B · Shareholders' equity $92.91B
Dividends
Last raised to $0.5299 from $0.2853 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 25, 2026 | Aug 25 | Dec 29 | $0.5299 | raised from $0.2853 |
| Jun 3, 2026 | Jun 3 | Sep 28 | $0.2853 | raised from $0.2678 |
| Apr 24, 2026 | Apr 24 | May 28 | $0.2603 | special dividend |
| Dec 26, 2025 | Dec 26 | Mar 27 | $0.3681 | special dividend |
| Aug 25, 2025 | Aug 25 | Dec 30 | $0.2455 | special dividend |
| Jun 4, 2025 | Jun 4 | Sep 29 | $0.3271 | special dividend |
| Apr 22, 2025 | Apr 22 | Jun 27 | $0.2678 | cut from $0.4967 |
| Dec 27, 2024 | Dec 27 | Feb 27 | $0.4297 | special dividend |
Ownership
Shares outstanding 6.44B · Float 4.03B
This issuer lists more than one class and the share count spans them all, so a stake here reads as a share of the whole company, not of this class.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % of company | Form | Filed |
|---|---|---|---|---|
| GQG Partners LLC | 193.20M | 3.00% | 13F | Aug 12, 2026 |
| Baillie Gifford & Co | 48.62M | 0.75% | 13F | Aug 6, 2026 |
| Arrowstreet Capital, Limited Partnership | 40.19M | 0.62% | 13F | Aug 13, 2026 |
| Capital International Investors | 38.07M | 0.59% | 13F | Aug 12, 2026 |
| Capital World Investors | 29.42M | 0.46% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 1, 2026 | Angelica Garcia Cobas Laureano | officer: Chief Commercial Officer | −19 | $9.09 |
| Apr 2, 2026 | Angelica Garcia Cobas Laureano | officer: Chief Commercial Officer | +1,000 | $9.49 |
Peers
- Shell (ADR)
Broad rival in Brazilian pre-salt, fuels, LNG and lower-carbon energy
- TotalEnergies
Pre-salt and integrated-energy rival across oil, gas and power
- Equinor (ADR)
Brazilian deepwater challenger in pre-salt oil, gas and offshore power
- Ultrapar (ADR)
Brazilian fuels and logistics rival through Ipiranga and Ultracargo
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Petrobras (ADR) | $18.55 | +0.13% | $119.41B | 4.7 | 4.6 | — | +59.8% |
| Shell (ADR) | $91.47 | +0.63% | $253.47B | 10.0 | 9.2 | 0.8 | +44.7% |
| TotalEnergies | $86.31 | −0.05% | $192.30B | 10.9 | 8.4 | 1.0 | +26.2% |
| Equinor (ADR) | $41.25 | −0.28% | $98.95B | 11.3 | 8.8 | 0.9 | +36.5% |
| Ultrapar (ADR) | $6.38 | −1.27% | $6.89B | 10.5 | 13.9 | 0.2 | +28.1% |
| Median | 10.7 | 9.0 | 0.9 | +32.3% |