Berry Petroleum Corp.

Berry Corp. is an energy exploration company. The firm engages in the acquisition, exploration, development, and production of domestic oil and natural gas reserves. It also operates in California, Utah, and Colorado. The company was founded by C. J. Berry in 1909 and is headquartered in Dallas, TX.

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Earnings data Q3 2023

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Berry Petroleum Corp. reports strong 2022 performance and strategic growth plans

Berry Petroleum Corp. showcased robust financial and operational performance in 2022, emphasizing shareholder returns and operational efficiencies. Despite facing regulatory hurdles and an expected production decline in 2023, the company remains focused on optimizing production and delivering value to shareholders.

Berry Petroleum Corp. reports solid Q1 results and plans investor returns

Berry Petroleum Corp. delivered Q1 results in line with expectations, focusing on shareholder returns and cost-saving measures.
Despite challenges from lower oil prices and higher expenses, Berry remains committed to optimizing production and maximizing shareholder value.
The company's strengths lie in its high-quality assets, strategic focus on acquisitions, and commitment to environmental and safety standards.
Opportunities in M&A, expansion in the California market, and service business growth position Berry for future value creation and market capture.

Berry Petroleum Corp. reports strong Q2 performance and growth outlook

Berry Petroleum Corp. delivered a strong performance in Q2 2023, with a focus on strategic execution and financial discipline.
The pending acquisition of Macpherson Energy is expected to drive free cash flow growth and align with the company's capital return strategy.
Despite potential challenges in integration and regulatory navigation, Berry remains confident in its ability to deliver value to shareholders and pursue growth opportunities.

Berry Petroleum Corp. reports robust Q3 earnings and eyes growth opportunities

Berry Petroleum Corp. delivered strong financial performance in Q3, driven by cost efficiencies and strategic acquisitions. The company is poised for growth through operational improvements and expansion into new markets.

Berry Petroleum Corp. reports robust Q4 performance and eyes growth opportunities

Berry Petroleum Corp.'s Q4 2023 earnings call highlighted a strong financial performance, operational excellence, and a focus on shareholder returns. The company's strategic approach to reservoir management, acquisitions, and cost reduction sets a positive trajectory for future growth and value creation.

Berry Petroleum Corp. reports robust Q1 performance amidst growth focus

Berry Petroleum Corp. delivered solid financial and operational performance in Q1 2024, emphasizing efficiency, growth, and sustainability.
While facing challenges like litigation and market dynamics, Berry remains focused on optimizing operations and seizing growth opportunities.
With a strategic roadmap for 2024 and a commitment to responsible practices, Berry is poised to navigate challenges and capitalize on industry trends.

Berry Petroleum Corp. reports strong Q2 earnings and eyes growth

Berry Petroleum Corp. delivered a robust performance in Q2 2024, driven by strong financial results and successful drilling activities. The company's focus on safety, environmental responsibility, and growth opportunities positions it well for sustainable success in the oil and gas sector.

Berry Petroleum Corp. reports robust Q3 performance and strategic growth plans

Berry Petroleum Corp.'s Q3 2024 Earnings Call showcased strong operational and financial performance, underpinned by successful initiatives and strategic planning. The company is navigating challenges while capitalizing on opportunities for growth and value creation in the energy sector.

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Berry Corp. is an energy exploration company, which engages in the acquisition, exploration, development, and production of domestic oil and natural gas reserves. It operates through the Exploration and Production (E&P) and Well Servicing and Abandonment segments. The E&P segment consists of the development and production of onshore, low geologic risk, long-lived conventional oil and gas reserves, primarily located in California, as well as Utah. The Well Servicing and Abandonment segment is involved in the wellsite services in California to oil and natural gas production companies, with a focus on well servicing, well abandonment services and water logistics. The company was founded by C. J. Berry in 1909 and is headquartered in Dallas, TX.

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After Treasury yields soared to over 5% for the 10-year note and the 30-year-long bond, many on Wall Street urged investors to grab the once-in-20-year debt.

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Berry averaged 25,300 BOEPD in Q3 2023 production, along with generating $35 million in adjusted free cash flow. Berry's Macpherson acquisition may have contributed around 300 BOEPD in Q3 production with its mid-September close. Macpherson's production is expected to be 2,400 BOEPD in 2024, and this should meaningfully help Berry's Q4 2023 results as well.

Berry Corporation: Q4 Should Benefit From A Full Quarter From Macpherson Assets

Berry Petroleum (BRY) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

After Plunging -11.22% in 4 Weeks, Here's Why the Trend Might Reverse for Berry Petroleum (BRY)

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The consensus price target hints at a 33.3% upside potential for Berry Petroleum (BRY). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Predict a 33.29% Upside in Berry Petroleum (BRY): Here's What You Should Know

Berry Corporation (NASDAQ:BRY ) Q3 2023 Earnings Conference Call November 1, 2023 11:00 AM ET Company Participants Todd Crabtree - Head, IR Fernando Araujo - CEO Mike Helm - VP, CFO & CAO Conference Call Participants Charles Meade - Johnson Rice Nicholas Pope - Seaport Research Steven Busch - Everglades Resources, Inc Operator Good day, and thank you for standing by. Welcome to the Berry Corporation Q3 2023 Earnings Call.

Berry Corporation (BRY) Q3 2023 Earnings Call Transcript

While the top- and bottom-line numbers for Berry Petroleum (BRY) give a sense of how the business performed in the quarter ended September 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Berry Petroleum (BRY) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

DALLAS, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) announced third quarter 2023 results, including net loss of $45 million or $0.60 per diluted share, Adjusted Net Income(1) of $12 million or $0.15 per diluted share, cash flow from operating activities of $55 million and Adjusted EBITDA(1) of $70 million.

Berry Corporation Reports Third Quarter 2023 Results

Favorable commodity prices are likely to have aided Berry (BRY) in Q3.

Berry (BRY) to Report Q3 Earnings: What's in the Offing?

Berry Petroleum (BRY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Berry Petroleum (BRY) Q3 Earnings Expected to Decline

Berry Petroleum (BRY) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Can Berry Petroleum (BRY) Run Higher on Rising Earnings Estimates?

Berry Petroleum (BRY) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.

Despite Fast-paced Momentum, Berry Petroleum (BRY) Is Still a Bargain Stock

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Are Investors Undervaluing Berry (BRY) Right Now?

DALLAS, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) today announced it will report its third quarter 2023 financial results on Wednesday, November 1, 2023, before the open of U.S. financial markets and host a conference call later that morning to discuss these results.

Berry Corporation to Report Third Quarter 2023 Results and Hold Conference Call November 1

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Berry is now projected to generate $86 million in free cash flow in 2H 2023. It has around 60% of its 2H 2023 oil production and close to 50% of its 2024 oil production hedged with swaps. Berry has reduced its capex budget in 2023 to help pay for its Macpherson acquisition.

Berry Corporation: Projected To Generate $86 Million In H2 2023 Free Cash Flow

Berry Petroleum (BRY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Berry Petroleum (BRY) Upgraded to Buy: What Does It Mean for the Stock?

Is Berry (BRY) Stock Undervalued Right Now?

DALLAS, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) announced today that it has successfully completed the acquisition of Macpherson Energy Corporation, a privately held Kern County, California operator, previously announced in June. The Company has also updated its guidance for the full-year 2023 in connection with the acquisition.

Berry Corporation Completes Acquisition of Macpherson Energy Corporation, Updates Annual Guidance

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The headline numbers for Berry Petroleum (BRY) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Berry Petroleum (BRY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Berry Petroleum (BRY) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to earnings of $0.64 per share a year ago.

Berry Petroleum (BRY) Q2 Earnings and Revenues Top Estimates

DALLAS, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) announced second quarter 2023 results, including net income of $26 million or $0.33 per diluted share, Adjusted Net Income(1) of $12 million or $0.15 per diluted share, cash flow from operating activities of $63 million and Adjusted EBITDA(1) of $69 million.

News for Berry Petroleum Corp. Stock (BRY)