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Berry Petroleum Corp (BRY)
NASDAQ:BRY
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Berry Petroleum
(NASDAQ:BRY)
68Neutral
Berry Petroleum (BRY) vs. S&P 500 (SPY)
Market Cap
$200.97M
Dividend Yield13.51%
Average Volume (3M)1.09M
Price to Earnings (P/E)10.4
Beta (1Y)0.86
Revenue Growth-2.73%
EPS Growth-49.90%
CountryUS
Employees1,070
SectorEnergy
Sector Strength47
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)0.21
Shares Outstanding77,596,200
10 Day Avg. Volume797,425
30 Day Avg. Volume1,093,543
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap3.60
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit0.93
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$4.00Price Target Upside67.36% Upside
Rating ConsensusHold
Number of Analyst Covering2
Berry Petroleum Business Overview & Revenue Model
Company DescriptionBerry Petroleum Corporation (BRY) is an independent upstream energy company engaged in the development and production of conventional oil reserves located primarily in California. The company operates primarily in the oil and natural gas sector, focusing on the extraction and production of crude oil. Berry Petroleum applies a disciplined approach to asset development and management, with an emphasis on maximizing the value of its existing oil reserves while adhering to sustainable and environmentally responsible practices.
How the Company Makes MoneyBerry Petroleum makes money primarily through the extraction and sale of crude oil and natural gas. The company's revenue model is driven by its ability to efficiently produce hydrocarbons from its reserves and sell them in the market. Key revenue streams include the sale of crude oil, which constitutes the majority of its revenues, as well as natural gas. The company may also benefit from strategic partnerships with other energy firms and service providers, which can enhance its operational capabilities and market access. Additionally, Berry Petroleum's financial performance is influenced by factors such as oil prices, production levels, and operational efficiencies.
Berry Petroleum Financial Statement Overview
Summary
Berry Petroleum demonstrates a stable financial position with some challenges in revenue and profit growth. The company maintains a solid equity base and operational efficiency, yet it faces declining profitability and cash flow. Continued focus on improving revenue and managing expenses will be crucial for future financial health.Income Statement
Berry Petroleum's income statement reflects a mixed performance. The gross profit margin is strong, indicating effective cost management relative to revenue. However, the net profit margin has decreased significantly from the previous year, showing declining profitability. Revenue growth is negative, which is concerning, but the company has maintained a solid EBIT margin.―
Balance Sheet
The balance sheet shows a stable financial position with a moderate debt-to-equity ratio, which suggests manageable leverage. Return on equity is relatively low, pointing to limited profitability from shareholders' equity. However, the equity ratio remains healthy, reflecting a solid capital structure.70
Cash Flow
Berry Petroleum's cash flow statement indicates positive operating cash flow, which is a good sign of operational efficiency. Free cash flow has declined, indicating less cash available after capital expenditures. The operating cash flow to net income ratio is robust, but the decrease in free cash flow growth raises some concerns.―
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 776.50M | 863.45M | 1.06B | 701.35M | 406.05M | Gross Profit |
| 776.50M | 237.34M | 431.62M | 269.32M | 63.92M | EBIT |
| 550.68M | 306.22M | 130.12M | -8.84M | -202.66M | EBITDA |
| 161.05M | 251.38M | 401.10M | 163.58M | -96.64M | Net Income Common Stockholders |
| 19.25M | 37.40M | 250.17M | -15.54M | -262.89M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 15.34M | 4.83M | 46.25M | 15.28M | 80.56M | Total Assets |
| 1.52B | 1.59B | 1.63B | 1.46B | 1.42B | Total Debt |
| 429.63M | 436.06M | 397.40M | 394.57M | 393.48M | Net Debt |
| 414.30M | 431.23M | 351.15M | 379.28M | 312.92M | Total Liabilities |
| 787.05M | 836.18M | 830.54M | 763.83M | 705.77M | Stockholders Equity |
| 730.64M | 757.98M | 800.49M | 692.65M | 714.04M |
| Cash Flow | Free Cash Flow | |||
| 107.87M | 117.59M | 222.31M | -10.63M | 102.73M | Operating Cash Flow |
| 210.22M | 198.66M | 360.94M | 122.49M | 196.53M | Investing Cash Flow |
| -105.56M | -175.27M | -164.55M | -168.79M | -93.62M | Financing Cash Flow |
| -79.46M | -64.80M | -165.42M | -18.98M | -22.35M |
Berry Petroleum Technical Analysis
Negative
2.39
Price Trends
3.03
Negative
3.68
Negative
4.49
Negative
Market Momentum
-0.14
Negative
38.81
Neutral
47.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRY, the sentiment is Negative. The current price of 2.39 is below the 20-day moving average (MA) of 2.42, below the 50-day MA of 3.03, and below the 200-day MA of 4.49, indicating a bearish trend. The MACD of -0.14 indicates Negative momentum. The RSI at 38.81 is Neutral, neither overbought nor oversold. The STOCH value of 47.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BRY.
Berry Petroleum Peers Comparison
Overall Rating
UnderperformOutperform
Sector (56)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $200.97M | 10.36 | 2.59% | 13.51% | -2.73% | -49.90% | |
66 Neutral | $257.01M | 7.48 | 8.62% | 2.63% | 14.70% | ― | |
56 Neutral | $7.00B | 3.44 | -4.86% | 5.89% | -0.09% | -48.37% | |
55 Neutral | $190.00M | 2.59 | 8.20% | ― | 1.46% | -38.55% | |
51 Neutral | $186.16M | ― | -32.34% | ― | 7.31% | -326.94% | |
43 Neutral | $175.71M | ― | 203.83% | 3.36% | -1.39% | -655.53% | |
39 Underperform | $246.67M | ― | -10.70% | ― | ― | 57.82% |
* Energy Sector Average
Performance Comparison
BRY
Berry Petroleum
2.39
-5.12
-68.18%
FET
Forum Energy Tech
13.82
-4.98
-26.49%
NC
NACCO Industries
33.66
2.07
6.55%
WTI
W&T Offshore
1.15
-1.20
-51.06%
REI
Ring Energy
0.87
-1.10
-55.84%
TBN
Tamboran Resources Corporation
19.50
-3.00
-13.33%
Berry Petroleum Earnings Call Summary
Earnings Call Date:Mar 12, 2025
(Q4-2024)
| % Change Since: -33.80%|
Next Earnings Date:May 08, 2025
Earnings Call Sentiment Positive
The earnings call reflects a positive sentiment with strong financial performance in 2024, successful drilling results, and significant reserve additions. The company managed costs effectively and achieved substantial environmental goals. However, dependency on permitting processes and market volatility are challenges that could impact future operations.Q4-2024 Updates
Positive Updates
Strong Financial Performance in 2024
Berry Corporation reported $292 million of adjusted EBITDA, a 9% increase from 2023, and generated $108 million in free cash flow for the year.
Successful Drilling and Production
Berry drilled a total of 56 gross wells in 2024, including 46 in California and 10 in Utah, maintaining an average annual production of 25,400 barrels of oil equivalent per day, which is near the top of their guidance range.
Significant Reserve Replacement Ratio
The company achieved a 147% reserve replacement ratio, adding reserves in both California and the Uinta Basin, with a total proved reserves of 107 million barrels of oil equivalent.
Cost Management and Efficiency Improvements
Berry reduced hedged LOE by 12% and adjusted G&A by more than 6% year over year, and achieved a significant cost advantage in the Uinta Basin with development wells being approximately 20% less expensive per foot than other operators.
Environmental Achievements
Berry completed a methane emissions reduction project, achieving more than an 80% reduction compared to a 2022 baseline, and plans to launch further environmental initiatives in 2025.
Negative Updates
Dependency on Permitting Processes
The company faces uncertainty with the Kern County EIR reinstatement process, although they have flexibility to shift capital to Utah if needed.
Commodity Market Volatility
The company is exposed to commodity market volatility, impacting strategic decisions such as potential joint ventures for future development in the Uinta Basin.
Company Guidance
During the Berry Corporation Q4 and Full Year 2024 Earnings Conference call, the company provided a comprehensive update on its financial and operational performance, as well as strategic initiatives for 2025. Berry reported an adjusted EBITDA of $292 million for 2024, marking a 9% increase from the previous year. The company successfully maintained its average annual production at 25,400 barrels of oil equivalent per day, nearing the top of its guidance range, despite a 35% decline in California's statewide oil production over the past six years. Berry drilled 56 gross wells in 2024 and plans to sustain production by drilling approximately 50 gross wells in 2025. The company achieved a reserve replacement ratio of 147%, with total proved reserves of 107 million barrels of oil equivalent valued at $2.3 billion. Berry highlighted its strategic focus on capital efficiency, cost reduction, and sustainability, including an 80% reduction in methane emissions compared to a 2022 baseline. Despite regulatory challenges, the company expressed confidence in its ability to sustain production and generate value for shareholders through its robust inventory of high-return projects and strategic flexibility.Berry Petroleum Corporate Events
Business Operations and StrategyFinancial Disclosures
Berry Petroleum Updates Hedging Program and Liquidity
Positive
Apr 23, 2025
On April 23, 2025, Berry Corporation announced updates to its hedging program and liquidity position, highlighting its financial strength amidst market volatility. The company has increased its average hedged price for 2026 and 2027 by $6 per barrel and reported a liquidity position of $120 million as of March 31, 2025. Berry’s oil volumes are significantly hedged for the remainder of 2025 and into 2026, ensuring stable cash flow and continued debt reduction. Additionally, Berry’s executives will participate in upcoming investor conferences, further engaging with stakeholders.
Spark’s Take on BRY Stock
According to Spark, TipRanks’ AI Analyst, BRY is a Neutral.
Berry Petroleum’s overall score reflects a stable financial position with strong operational efficiency, attractive valuation, and positive strategic initiatives. However, challenges such as declining profitability, market volatility, and regulatory dependencies weigh on the outlook. The high dividend yield and strategic appointments provide a positive outlook for long-term growth.
To see Spark’s full report on BRY stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.