Petrobras Beats Exxon and Chevron in 2026 While Dividend Shrinks

24/7 Wall St.··BR·Read original
2▲0 ▼2Impact / 5
Summary · why it matters

Petrobras ADRs surged 63% in 2026, outperforming Exxon Mobil and Chevron, even as its trailing annual dividend shrank from roughly $1.89 in 2024 to just $0.71. The Brazilian state-controlled producer's ADRs are up 62.64% year to date through August 20, versus Exxon's 40.81% and Chevron's 38.76%. Management funneled record free cash flow of $11.51 billion toward reducing $70.8 billion in gross debt, targeting $65 billion. Brazil's new export taxes cost Petrobras $1 billion in the first half alone, and executives ruled out extraordinary dividends while Brent prices stay flat.

Impact on assets 4

Energy▼ · 2 stocks
Petroleo Brasileiro Petrobras SA ADR
PBR
± MixedCapitalTariffrelevance

Petrobras ADRs surged 63% in 2026, outperforming Exxon and Chevron, as record free cash flow of $11.51B was funneled toward debt reduction.

Chevron Corp
CVX
▼ NegativeCompetitionrelevance

Petrobras outperformed Chevron in 2026, with ADRs up 62.64% vs Chevron's 38.76%.

Energy Transition & Power Demand▼ · 1 stocks
Exxon Mobil Corp
XOM
▼ NegativeCompetitionrelevance

Petrobras outperformed Exxon in 2026, with ADRs up 62.64% vs Exxon's 40.81%.

Artificial Intelligence▲ · 1 stocks
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