The stock that could jump up to 194% because of soaring oil – Money Times

3R petroleum Action
XP, Genial and BTG believe in the action potential of 3R Petroleum (Image: Reproduction Linkedin 3R Petroleum)

THE action gives 3R Petroleum (RRRP3) could shoot up to 194.11% after the release of the reserve certification report, according to the analyst at Great Investments in a report sent to customers last Tuesday night (10).

This optimism as the paper is also reaffirmed by the XP Investimentosbut in a less benevolent tone, after all, experts calculate that the paper can jump up to 89.56%, in comparison with last Tuesday’s closing, when the asset closed the day quoted at R$ 40.46.

The two analysis houses liked the increase in reserves, XP highlighted that the higher volumes were positive for the oil company. They attributed the Brent surge to the achievement of some reserve milestones and that this should continue.

“The rise in Brent, which should continue going forward, and the conclusion of the acquisition of Cluster Recôncavo, are important steps towards a well-deserved re-rating of 3R shares”, say Thales Carmo and Andre Vidal, who signed the report.

Genial, on the other hand, filled 3R Petroleum with praise and classified the company as one of the best in the sector.

“For comparison purposes, 3R Petroleum continues to have the second best reserve profile among all comparable companies in Latin America, behind only Petrorecôncavo”, explains Vitor Souza, who signed the Genial document.

Reservations that were positive highlights for action

Another point is that Genial and XP praised the reserves in Macau, Fazenda Belém, Pescada and Arabaina, Recôncavo and Rio Ventura.

“Essentially, total barrels in P2 recoverable reserves from these fields jumped from 487 million barrels to 515 million barrels recoverable under the new certifications, an increment of c. 5.7% compared to previous reservations”, says Genial.

On the other hand, XP specialists did not provide many details, but again said that the rise in oil prices is a key factor for this boom in the reserves of Macau, Fazenda Belém, Pescada and Arabaina, Recôncavo and Rio Ventura.

already the BTG Pactualsaid he reiterates 3R Petroleum as the oil and gas sector’s favorite, as he sees that the action is discounted and that this should end soon.

However, the Bank did not set a target price for the asset, it only commented on the report, along the same lines as XP and Genial.

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