Petróleo Brasileiro S.A.

Petróleo Brasileiro S.A. (Petrobras), a state-owned Brazilian oil and gas giant, reported robust financial performance for 2023 with a revenue of $102.41 billion and a net income of $24.88 billion. The company’s earnings per share (EPS) were $3.82, and its shares are trading at approximately $14.09, yielding an earnings yield of 27.1%. Recent year’s dividend yields (in excess of 30%) led to the ouster of the CEO by Brazil’s president over disagreements on dividend policies and management direction.

In 2023, Petrobras made significant investments totaling $12.7 billion, facilitating the deployment of four new production platforms. The company also demonstrated strong cash flow, with an operating cash flow of $43.2 billion and free cash flow of $31.1 billion. Petrobras is valued at a market capitalization of $89 billion.