Petrobras Trading Volume Surges 61.26% to $0.34 Billion Outpacing Brazil Market Activity

On August 22, 2025, Brazilian stocks saw increased activity with Petrobras (PBR) rising 3.18% as trading volume hit $0.34 billion, a 61.26% surge from the prior day. Petrobras reported a $4.03 billion revenue decline in H1 2025, driven by $2.22 billion in domestic product sales drops and $1.81 billion in crude export losses. Domestic revenue fell due to $2.72 billion in price declines from lower international diesel/gasoline prices, partially offset by $493 million in higher sales volumes. Exported crude revenue dipped $1.81 billion, with $1.31 billion linked to weaker Brent crude prices and $502 million from lower volumes. The report highlighted exposure to commodity price volatility but omitted details on profit margins or net income.

Despite the revenue contraction, Petrobras’ net income rose 141.3% to $10.7 billion, aided by a $2.76 billion foreign exchange gain from real appreciation. Capital expenditures increased 32% to $8.5 billion, prioritizing pre-salt basin projects like Búzios and Atapu. Net debt rose 12.1% to $58.6 billion, with a 1.53 net debt/EBITDA ratio. The company maintained liquidity via $3.07 billion in debt financing and $4.59 billion in shareholder dividends. Operational production grew 3.7% to 2.84 million boe/d, driven by new FPSO startups in Santos and Campos basins.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to now delivered moderate returns. The 1-day return was 0.98%, with a total return of 31.52% over 365 days. The strategy's Sharpe ratio was 0.79, indicating good risk-adjusted returns. However, the maximum drawdown of -29.16% highlights its vulnerability during market downturns.