11 Most Undervalued Energy Stocks to Buy Now

8. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is one of the most undervalued energy stocks to buy now. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was downgraded to Hold from Buy by Jefferies on March 13, with the firm bringing the price target on the stock down to $19 from $20.30. The firm told investors that the rating update came after the Brazilian government announced a temporary 12% oil export tax, as well as a cut in fuel taxes and diesel subsidies as a means to contain the inflationary impact of the US-Israel war with Iran. Jefferies further noted that Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) could offset part of the export tax by improving refining margins, and added that the firm sees this news as materially removing its oil price leverage and ability to raise dividends.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) also received a rating update from HSBC on March 12. The firm lifted the price target on the stock to $20 from $16 and maintained a Buy rating on the shares. It told investors that it sees upside risks to oil prices and increased estimates accordingly for the Latin America oil names.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is involved in exploration, production, and distribution activities involving oil and gas. The company’s operations are divided into the following segments: Exploration and Production; Refining, Transportation, and Marketing; and Gas and Low Carbon Energies.