At the end of the third quarter, Petrobras (PBR) had a net debt of $47,483 million, down from $48,132 million a year ago but up from $34,435 million as of Jun 30, 2022.
Petrobras (PBR) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Shares of Brazilian oil company Petroleo Brasileiro (NYSE: PBR) (NYSE: PBR.A) slipped somewhat this morning after investment bank UBS flipped 180 degrees from buy to sell on the oil stock. The amount of the decline is in some dispute, with Google Finance clocking an 18% fall on PBR shares from a closing price of $11.40 per share last night, while Yahoo! Finance says it closed at only $10.10 per share and is down only 4%.