15 Best Undervalued Stocks Under $50 to Invest In Now

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

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is one of the best undervalued stocks under $50 to invest in now. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) announced on March 18 a new gas discovery in the Copoazu-1 exploratory well, located in Block GUA-OFF-O in deep waters offshore Colombia. Management stated that the discovery consolidates the gas province and the gas potential in the Colombian offshore, and also contributes a significant volume of gas to the region’s energy security.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) reported that the Copoazu-1 well is located around 36 kilometers from the coast, at a water depth of 964 meters, and 8 kilometers from the Sirius-1 and Sirius-2 wells, which sheds light on its relevance within the exploratory context of Block GUA-OFF-0.

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) 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.