Petrobras (PBR – Free Report) shares rose 5.3% in the last trading session to close at $13.51. The move can be attributed to significant volume, with more shares traded than in a typical session. For comparison, the share price is up 8.5% over the last four weeks.

Petrobras shares rose after the company announced a $560 million contract to build LPG tankers, barges and pushers at Brazilian shipyards, which will expand Transpetro’s fleet and reduce its reliance on chartered vessels. The transaction is also expected to create approximately 9,000 jobs, supporting the local economy. Investor sentiment was further boosted by Petrobras’ 2025 production update, which showed record oil production that exceeded targets. The stock’s momentum was further boosted by many analysts who increased their recommendations and price targets for the stock, which helped drive the pointed upward move.

The oil and gas company is expected to post quarterly earnings per share of $0.52 in its upcoming report, representing a year-over-year change of +6.1%. Revenue is expected to be $22.43 billion, up 7.8% from the year-ago quarter.

While earnings and revenue growth expectations are vital in assessing a stock’s potential strength, empirical research shows a robust correlation between trends in earnings estimate revisions and near-term stock price movements.

For Petrobras, the consensus EPS estimate for the quarter has not changed over the last 30 days. And a stock price typically doesn’t move higher in the absence of a trend in earnings estimate revisions. So be sure to keep an eye on PBR in the future to see if this recent spike can turn into more strength in the future.

Petrobras belongs to the Zacks Oil and Gas – Integrated – International industry. Another action from the same industry, Golar LNG (GLNG – Free Report) , closed 3.7% higher in the latest session at $40.29. Over the past month, GLNG has gained 4.3%.

Golar LNG’s consensus EPS estimate for the upcoming report remains unchanged over the past month at $0.38. Compared to the company’s EPS a year earlier, this means a change of +26.7%. Golar LNG currently boasts a Zacks Rank of #3 (Hold).