5 Best Natural Resources Stocks to Buy Now

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

On May 21, 2026, Grupo Santander upgraded Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) to Outperform from Neutral with a $24 price target. Grupo Santander cited the company’s better upstream momentum and “more contained” downstream risks for the upgrade.

Last month, BofA upgraded Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) to Buy from Neutral with a price target of $24.80, up from $18.70, after incorporating a higher oil price deck into its model. BofA said it still sees “appealing” dividend yields for 2026-27, even with higher capex spending.

JPMorgan also raised the firm’s price target on Petrobras to $24 from $16.50 and maintained an Overweight rating on the shares. JPMorgan cited “compelling valuations for oil companies” amid higher oil prices and said Petrobras is “emerging as a clear leader,” supported by “highly profitable” upstream operations and “robust” cash flow. The firm also viewed recent share price weakness as a “compelling entry point” and said it is “pounding on the table” at current levels.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally.