AllAnalyst Report
logoMorningstarOctober 30, 2020

Petróleo Brasileiro S.A. - Petrobras: Petrobras Posts Solid Q3 As Debt Reduction Resumes; Adjusts Dividend Policy

Symbols
PBR
Sector(s)
Energy
Rating
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Current Price
$8.77
Fair Value
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Economic Moat
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Stewardship
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Summary

Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production for oil and gas in Brazilian offshore fields. Production in 2019 was 2.8 million barrels of oil equivalent a day (80% oil production), and reserves stood at 9.6 billion boe (85% oil). Petrobras operates 13 refineries in Brazil with capacity of 2.2 million barrels a day and distributes refined products and natural gas throughout Brazil.

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Analyst Profile

Allen Good

Sector Strategist
Allen Good, CFA, is an energy strategist for Morningstar Holland BV, a wholly owned subsidiary of Morningstar, Inc. Based in Amsterdam, he covers the oil and gas industries. He is also a member of the Morningstar Research Services Economic Moat Committee, a group of senior members of the equity research team responsible for reviewing all Economic Moat and Moat Trend ratings issued by Morningstar.Before joining Morningstar in 2008, he performed merger and acquisition advisory work for a middle-market investment bank. Before that, he spent several years at Black & Decker in various operational roles.Good holds a bachelor’s degree in business from the University of Tennessee and a master’s degree in business administration from Kenan-Flagler Business School at the University of North Carolina. He also holds the Chartered Financial Analyst® designation.