WallStSmart
PBR

Petroleo Brasileiro Petrobras SA ADR

NYSE: PBR · ENERGY · OIL & GAS INTEGRATED

$22.03
+0.82% today

Updated 2026-04-30

Market cap
$141.97B
P/E ratio
7.25
P/S ratio
0.29x
EPS (TTM)
$3.04
Dividend yield
14.60%
52W range
$10 – $22
Volume
30.8M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Petroleo Brasileiro Petrobras SA ADR (PBR) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$22.03
Consensus
$15,750.00
+71393.42%
2030 Target
$1,155.47
+5144.98%
DCF
—
—
4 analysts:
2 Buy1 Hold0 Sell

Management guidance

No specific multi-year revenue targets disclosed in available earnings call transcripts. Management emphasized record production growth in 2025 (11% increase, reaching 2,990 Mboed) and capital discipline with $20.3B CAPEX investment, signaling continued pre-salt development and production ramp through 2030. CEO guidance focused on operational metrics (production volumes, FPSO capacity additions) rather than explicit revenue targets.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,924.42
$620.0B Rev × 20x P/S
Base case (2030)
$1,155.47
$620.0B Rev × 12x P/S
Bear case (2030)
$768.94
$620.0B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$105.5B$91.4B$90.8B$477.3B$502.7B$542.0B$563.2B$620.0B
Revenue growth—-13.4%-0.7%-4.1%5.3%7.8%6.1%6.9%
EPS$4.13$2.60$2.80$6.19$7.00$8.15$8.82$9.60
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$888.19$935.48$1,009.50$1,048.56$1,155.47

Catalysts & risks

Growth catalysts
+ Buzios FPSO ramp-up completion (P-78 achieved first gas injection March 2026, targeting 180k bopd capacity)
+ Pre-salt production growth continuing from newly discovered fields (Marlim Sul, equatorial margin exploration)
+ Namibia offshore Block 2613 development with TotalEnergies (42.5% stake) pending government approval
+ Braskem petrochemical portfolio optimization and strategic capital reallocation
+ Record proven reserves replacement (175% ratio in 2025) supporting production growth through decade
Key risks
- Oil price volatility: 2025 saw 14% Brent decline yet company maintained profitability; $50-60/bbl environment would pressure revenue significantly
- Brazilian government political intervention: potential fuel price controls, diesel subsidies, and dividend restrictions limit pricing power
- Geopolitical instability: Middle East conflicts creating oil price swings; Petrobras exposed to macro crude movements
- Energy transition and long-term demand: global oil demand growth slowing; renewable energy expansion pressuring legacy E&P returns
- FX risk: Brazilian Real volatility affects USD-reported revenue conversion from BRL-denominated operations

Methodology

Petroleo Brasileiro Petrobras SA ADR's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 4 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.