Petrobras reported Morpho oil discovery. Petrobras stock gains 1.40 percent
Published on 10/08/2026 at 16:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- Petrobras reported a second oil-bearing interval in the Morpho well on October 5, 2026.
- Second-quarter 2026 revenue rose 60.00 percent year over year to USD 33.60 billion.
- Lang & Schwarz quoted Petrobras at EUR 21.75 on October 8, 2026, plus 1.40 percent versus the prior close.
- UBS raised its Petrobras target from USD 22 to USD 23 on September 23, 2026.
Petrobras (ISIN US71654V4086) was trading at EUR 21.75 at Lang & Schwarz on October 8, 2026 at 4:34 p.m. CEST, up 1.40 percent versus the EUR 21.45 prior close. The company had reported a second oil-bearing interval in the Morpho well on October 5, 2026, extending its exploration campaign off Brazil's Amapá coast, Oil and Gas Journal reported.
Three recent operating markers
On September 23, 2026, UBS raised its Petrobras target from USD 22 to USD 23 and kept a Buy rating, according to Markets Insider. On September 29, 2026, Petrobras agreed to purchase 0.80 million tonnes of liquefied natural gas per year from Cheniere Marketing for 22 years, according to Cheniere. The October 5 Morpho announcement was the latest of the three events.
What does the discovery add?
The new interval was identified in the Morpho well at a water depth of 2,886 meters, while laboratory analysis of the earlier discovery confirmed good oil quality, Oil and Gas Journal reported. That makes the announcement operationally relevant rather than a reserve estimate: Petrobras still has to complete drilling and evaluate the formations before resource volumes can be established.
Financial momentum provides a separate counterweight. For the second quarter of 2026, Petrobras reported revenue of USD 33.60 billion, up 60.00 percent year over year, and net income of USD 10.40 billion, up 120.00 percent, according to the filing report. The exploration story therefore sits alongside a sharply higher reported earnings base.
Next reporting date is set
Petrobras is scheduled to report third-quarter 2026 results on November 10, 2026, according to TradingView. That date gives the market a defined checkpoint for production, cash flow and exploration updates.
Stock holds above prior close
On the NYSE, PBR was last at USD 24.45 on October 8, 2026 at 10:41 a.m. EDT, with a 52-week range of USD 11.43 to USD 24.76 and market capitalization of USD 157.6 billion. The further course of trading is shown by the continuously updated real-time quote of Petrobras stock.
Petrobras stock facts
- Company: Petróleo Brasileiro S.A. - Petrobras
- ISIN: US71654V4086
- Ticker: PBR
- Primary exchange: NYSE
- Price Lang & Schwarz (as of October 8, 2026, 4:34 p.m. CEST): EUR 21.75
- Change versus prior close: plus 1.40 percent
- Prior close Lang & Schwarz (October 7, 2026): EUR 21.45
- Market capitalization: USD 157.6 billion (as of October 8, 2026)
- 52-week range: USD 11.43-24.76 (as of October 8, 2026)
- Sector / Industry: Energy / Integrated Oil
- Next earnings date: November 10, 2026
Market context: Market report S&P 500.
