Petrobras (PBR) reported Q1 net income Tuesday of $6.2 billion, up from $5.97 billion a year earlier.
Analyst polled by FactSet expected $6.04 billion.
Sales revenue for the quarter ended March 31 was $23.54 billion, up from $21.07 billion a year earlier.
Analysts surveyed by FactSet expected $26.56 billion.
APA (APA) has an average rating of hold and mean price target of $42.11, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
BofA Global Research raised its forecasts for Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, as it incorporated the company's stronger-than-anticipated first-quarter results."We update our model post 1Q26 results to reflect better than expected upstream EBIT, which came 7% higher than BofAe as well as lower taxes. As a result, our FY26E net income has increased by c.3% vs our old estimates, while FY27E and 28E net income remain broadly unchanged," analysts wrote in a Tuesday note. "We believe Aramco is well positioned for production ramp post conflict resolution. To get from 10mb/d to 12mb/d, it contractually has 90 days, but it usually takes about 3 weeks. It can sustain 12mb/d production for up to 12 months without additional investments."The 2026 EPS estimate was upwardly revised to 2.13 Saudi riyals from 2.07 riyals, while the projection for 2028 was nudged higher to 2.14 riyals from 2.13 riyals.The buy rating on the stock and price objective of 34.50 riyals were both maintained.
Corcel (CRCL.L) appointed Leandro Schujmann as chief financial officer, succeeding Scott Kaintz, according to a Tuesday release.Schujmann joins the upstream oil and gas company from oil and gas peer, Meren Energy (MER.ST), where he was CFO.