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Berry Petroleum

DB:1P6
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1P6
DB
$895M
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Berry Petroleum Corporation, an independent upstream energy company, engages in the development and production of conventional oil reserves located in the western United States. The last earnings update was 41 days ago. More info.


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1P6 Share Price and Events
7 Day Returns
7.2%
DB:1P6
-4.5%
DE Oil and Gas
0.7%
DE Market
1 Year Returns
-
DB:1P6
14.3%
DE Oil and Gas
-8.7%
DE Market
1P6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Berry Petroleum (1P6) 7.2% -0.5% -8.8% - - -
DE Oil and Gas -4.5% -0.5% 9.1% 14.3% 18.1% 68.8%
DE Market 0.7% -1.2% 0.2% -8.7% 10% 8.1%
1 Year Return vs Industry and Market
  • No trading data on 1P6.
  • No trading data on 1P6.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Berry Petroleum undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Berry Petroleum to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Berry Petroleum.

DB:1P6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:1P6
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.914 (1 + (1- 21%) (43.8%))
1.154
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.154 * 5.96%)
7.11%

Discounted Cash Flow Calculation for DB:1P6 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Berry Petroleum is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:1P6 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.11%)
2019 58.00 Analyst x3 54.15
2020 45.00 Analyst x2 39.23
2021 51.00 Analyst x1 41.51
2022 55.50 Est @ 8.82% 42.17
2023 58.97 Est @ 6.25% 41.83
2024 61.58 Est @ 4.44% 40.79
2025 63.54 Est @ 3.18% 39.29
2026 65.00 Est @ 2.29% 37.52
2027 66.08 Est @ 1.67% 35.62
2028 66.90 Est @ 1.24% 33.67
Present value of next 10 years cash flows $405.77
DB:1P6 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $66.90 × (1 + 0.23%) ÷ (7.11% – 0.23%)
$974.61
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $974.61 ÷ (1 + 7.11%)10
$490.46
DB:1P6 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $405.77 + $490.46
$896.23
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $896.23 / 81.88
$10.95
DB:1P6 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:1P6 represents 0.87731x of NasdaqGS:BRY
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87731x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 10.95 x 0.87731
€9.60
Value per share (EUR) From above. €9.60
Current discount Discount to share price of €9.59
= -1 x (€9.59 - €9.60) / €9.60
0.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Berry Petroleum is available for.
Intrinsic value
0%
Share price is €9.59 vs Future cash flow value of €9.6
Current Discount Checks
For Berry Petroleum to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Berry Petroleum's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Berry Petroleum's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Berry Petroleum's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Berry Petroleum's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1P6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.21
NasdaqGS:BRY Share Price ** NasdaqGS (2019-06-19) in USD $10.93
Germany Oil and Gas Industry PE Ratio Median Figure of 5 Publicly-Listed Oil and Gas Companies 8.95x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.53x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Berry Petroleum.

DB:1P6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:BRY Share Price ÷ EPS (both in USD)

= 10.93 ÷ 0.21

52.38x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Berry Petroleum is overvalued based on earnings compared to the DE Oil and Gas industry average.
  • Berry Petroleum is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Berry Petroleum's expected growth come at a high price?
Raw Data
DB:1P6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 52.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
50.6%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 58 Publicly-Listed Oil and Gas Companies 0.88x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

DB:1P6 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 52.38x ÷ 50.6%

1.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Berry Petroleum is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Berry Petroleum's assets?
Raw Data
DB:1P6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $11.47
NasdaqGS:BRY Share Price * NasdaqGS (2019-06-19) in USD $10.93
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.27x
Germany Market PB Ratio Median Figure of 575 Publicly-Listed Companies 1.78x
DB:1P6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:BRY Share Price ÷ Book Value per Share (both in USD)

= 10.93 ÷ 11.47

0.95x

* Primary Listing of Berry Petroleum.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Berry Petroleum is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Berry Petroleum's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Berry Petroleum has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Berry Petroleum expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
50.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Berry Petroleum expected to grow at an attractive rate?
  • Berry Petroleum's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Berry Petroleum's earnings growth is expected to exceed the Germany market average.
  • Berry Petroleum's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1P6 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1P6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 50.6%
DB:1P6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 11.9%
Germany Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -5.1%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:1P6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1P6 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 383
2022-12-31 362
2021-12-31 732 294 106 2
2020-12-31 689 264 134 4
2019-12-31 558 251 68 4
DB:1P6 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 594 95 14
2018-12-31 582 103 49
2018-09-30 556 44 -123
2018-06-30 505 13 -89
2018-03-31 472 111 -48
2017-12-31 456 130 -39
2017-09-30 442 103 -66
2017-06-30 442 99 -149
2017-03-31 442 39 -149
2016-12-31 419 13 -1,283
2016-09-30 417 16 -1,343
2016-06-30 459 6 -1,782

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Berry Petroleum's earnings are expected to grow significantly at over 20% yearly.
  • Berry Petroleum's revenue is expected to grow by 11.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:1P6 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Berry Petroleum Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1P6 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.20 2.20 2.20 1.00
2022-12-31 2.08 2.08 2.08 1.00
2021-12-31 1.75 2.06 1.29 3.00
2020-12-31 1.60 1.95 1.19 5.00
2019-12-31 0.88 1.02 0.78 3.00
DB:1P6 Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.21
2018-12-31 0.85
2018-09-30 -2.52
2018-06-30 -2.21
2018-03-31 -1.26
2017-12-31 -1.02
2017-09-30 -1.99
2017-06-30 -3.72
2017-03-31 -3.72
2016-12-31
2016-09-30
2016-06-30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Berry Petroleum is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Berry Petroleum's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Berry Petroleum has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Berry Petroleum performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Berry Petroleum's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Berry Petroleum's year on year earnings growth rate has been positive over the past 5 years.
  • Berry Petroleum has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Berry Petroleum has become profitable in the last year making it difficult to compare the Europe Oil and Gas industry average.
Earnings and Revenue History
Berry Petroleum's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Berry Petroleum Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1P6 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 593.72 14.30 50.33
2018-12-31 581.81 49.16 47.25
2018-09-30 555.77 -123.06 42.11
2018-06-30 505.19 -88.57 39.03
2018-03-31 472.35 -48.14 33.68
2017-12-31 455.87 -39.32 33.65
2017-09-30 441.65 -65.65 38.00
2017-06-30 442.07 -148.92 44.64
2017-03-31 442.20 -148.79 63.98
2016-12-31 418.80 -1,283.20 79.24
2016-09-30 416.51 -1,342.88 71.45
2016-06-30 459.34 -1,781.60 77.62
2016-03-31 530.60 -1,817.27 89.98
2015-12-31 604.23 -1,015.18 85.99
2015-09-30 756.71 -1,139.99 94.26
2015-06-30 960.50 -487.67 89.26
2015-03-31 1,147.81 -379.83 80.48
2014-12-31 1,327.39 22.60 102.79
2014-09-30 1,376.80 131.92 113.41
2014-06-30 1,333.68 44.94 116.25
2014-03-31 1,249.08 27.29 108.17
2013-12-31 1,179.42 -19.97 90.34
2013-09-30 1,159.82 161.18 93.87
2013-06-30 1,081.37 150.98 95.07
2013-03-31 1,018.51 170.25 94.34
2012-12-31 960.96 171.54 89.50
2012-09-30 916.94 -280.61 76.10
2012-06-30 911.85 -165.83 70.61

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Berry Petroleum has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Berry Petroleum used its assets less efficiently than the DE Oil and Gas industry average last year based on Return on Assets.
  • Berry Petroleum has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Berry Petroleum's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Berry Petroleum has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Berry Petroleum's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Berry Petroleum's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Berry Petroleum's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Berry Petroleum's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Berry Petroleum's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Berry Petroleum Company Filings, last reported 2 months ago.

DB:1P6 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 939.13 391.95 1.66
2018-12-31 1,006.45 391.79 68.68
2018-09-30 889.11 391.51 23.86
2018-06-30 808.50 457.33 3.60
2018-03-31 861.11 391.12 67.09
2017-12-31 859.31 379.00 33.91
2017-09-30 877.54 379.00 2.93
2017-06-30
2017-03-31 502.96 1,725.06 30.48
2016-12-31 502.96 1,725.06 30.48
2016-09-30 569.74 1,725.06 29.65
2016-06-30 668.18 1,708.76 15.01
2016-03-31 661.34 1,718.10 7.33
2015-12-31 1,786.16 1,718.54 1.02
2015-09-30 1,871.74 2,018.98 282.81
2015-06-30 2,260.22 2,033.86 2.66
2015-03-31 2,052.50 2,086.49 1.42
2014-12-31 2,419.00 2,086.95 1.59
2014-09-30 2,737.08 2,087.41 6.58
2014-06-30 2,632.66 2,087.86 2.49
2014-03-31 2,375.19 2,295.80 5.52
2013-12-31 2,295.49 2,301.16 51.04
2013-09-30 1,133.39 1,740.12 24.06
2013-06-30 1,106.50 1,749.70 8.91
2013-03-31 1,046.81 1,756.91 0.11
2012-12-31 1,014.79 1,665.82 0.44
2012-09-30 976.29 1,612.54 0.10
2012-06-30 958.81 1,502.67 0.08
  • Berry Petroleum's level of debt (41.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (96.4% vs 41.7% today).
  • Debt is well covered by operating cash flow (24.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.4x coverage).
X
Financial health checks
We assess Berry Petroleum's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Berry Petroleum has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Berry Petroleum's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.39%
Current annual income from Berry Petroleum dividends. Estimated to be 4.39% next year.
If you bought €2,000 of Berry Petroleum shares you are expected to receive €88 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Berry Petroleum's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • Berry Petroleum's dividend is above the markets top 25% of dividend payers in Germany (3.91%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:1P6 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 58 Stocks 5.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:1P6 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.48 1.00
2022-12-31 0.48 1.00
2021-12-31 0.48 2.00
2020-12-31 0.48 2.00
2019-12-31 0.48 2.00
DB:1P6 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-28 0.480 4.172
2018-11-09 0.480 4.362
2018-11-08 0.480 3.431
2018-08-23 0.480 3.015
2018-08-22 0.480 3.488

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Berry Petroleum has stable dividend payments.
  • Berry Petroleum only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Berry Petroleum's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.6x coverage).
X
Income/ dividend checks
We assess Berry Petroleum's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Berry Petroleum afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Berry Petroleum has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Berry Petroleum's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Trem Smith
COMPENSATION $5,572,525
AGE 62
CEO Bio

Mr. Arthur T. Smith, also known as Trem, has been the President, Chief Executive Officer and Director at Berry Petroleum Company, LLC and Berry Petroleum Corporation since March 2017. Mr. Smith serves as Chairman of the Board at Berry Petroleum Corporation since February 28, 2019. Prior to being named Chief Executive Officer, Mr. Smith began an informal consulting relationship in May 2016, followed by a formal consulting relationship later in October 2016, and then served as interim Chief Executive Officer while he was a consultant in January 2017. He has significant experience in all phases of the oil and gas exploration and production business in the U.S. and internationally. In January 2014, Mr. Smith founded TS&J Consulting, where he served until joining Berry Corp. in March 2017, which focused on providing consulting services to distressed companies and assets in the United States and United Kingdom. He served as the Chief Executive Officer of TS&J Consulting. From January 2007 until January 2014, Mr. Smith was President and Chief Executive Officer at Hillwood International Energy, L.P. and HKN Energy Ltd. Mr. Smith spent 25 years of his career at Chevron, from 1981 until 2006, where he served in a number of leadership positions with increasing responsibilities in Russia, Thailand and multiple locations in the United States, including La Habra and San Francisco, California. He held various roles at Chevron Corporation, including President and General Manager of Russia operations, where he led several major acquisition projects and operational initiatives. While at Chevron, Mr. Smith was exposed to all phases of the business, including production, operations, exploration, business development, M&A, finance and technology. He graduated magna cum laude from Amherst College with a major in Geology and Russian. He has a Masters and PhD in Economic Geology from The Pennsylvania State University.

CEO Compensation
  • Trem's compensation has increased in line with Berry Petroleum recently becoming profitable.
  • Trem's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Berry Petroleum management team in years:

1.8
Average Tenure
57
Average Age
  • The average tenure for the Berry Petroleum management team is less than 2 years, this suggests a new team.
Management Team

Trem Smith

TITLE
Chairman
COMPENSATION
$6M
AGE
62

Cary Baetz

TITLE
Executive VP
COMPENSATION
$3M
AGE
53

Gary Grove

TITLE
Executive VP & COO
COMPENSATION
$3M
AGE
57
TENURE
2.1 yrs

Michael Helm

TITLE
Chief Accounting Officer
TENURE
1.6 yrs

Todd Crabtree

TITLE
Manager of Investor Relations

Kendrick Royer

TITLE
Executive VP
AGE
54
TENURE
1.6 yrs

Kurt Neher

TITLE
Executive Vice President of Business Development
AGE
57
TENURE
2.1 yrs
Board of Directors Tenure

Average tenure and age of the Berry Petroleum board of directors in years:

0.8
Average Tenure
62
Average Age
  • The average tenure for the Berry Petroleum board of directors is less than 3 years, this suggests a new board.
Board of Directors

Trem Smith

TITLE
Chairman
COMPENSATION
$6M
AGE
62
TENURE
0.3 yrs

Cary Baetz

TITLE
Executive VP
COMPENSATION
$3M
AGE
53
TENURE
2.1 yrs

Anne Mariucci

TITLE
Lead Independent Director
COMPENSATION
$134K
AGE
60
TENURE
0.3 yrs

C. Potter

TITLE
Independent Director
COMPENSATION
$134K
AGE
71
TENURE
0.8 yrs

Gene Voiland

TITLE
Independent Director
COMPENSATION
$276K
AGE
71
TENURE
2 yrs

Brent Buckley

TITLE
Director
AGE
46
TENURE
2.3 yrs

Don Paul

TITLE
Independent Director
AGE
71
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
14. Jun 19 Sell Benefit Street Partners L.L.C. Company 12. Jun 19 12. Jun 19 -5,085,000 €8.69 €-44,195,928
15. Mar 19 Sell BlackRock, Inc. Company 13. Mar 19 13. Mar 19 -76,512 €10.25 €-784,440
14. Dec 18 Buy Arthur Smith Individual 13. Dec 18 13. Dec 18 5,000 €9.00 €45,004
14. Dec 18 Buy Gary Grove Individual 13. Dec 18 13. Dec 18 20,000 €9.10 €181,953
01. Aug 18 Sell Goldman Sachs Asset Management, L.P. Company 30. Jul 18 30. Jul 18 -516,373 €11.23 €-5,800,057
01. Aug 18 Buy Gary Grove Individual 30. Jul 18 30. Jul 18 10,000 €11.61 €116,103
X
Management checks
We assess Berry Petroleum's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Berry Petroleum has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Berry Petroleum Corporation, an independent upstream energy company, engages in the development and production of conventional oil reserves located in the western United States. The company’s properties are located in the San Joaquin and Ventura basins, California; Uinta basin, Utah; and Piceance basin, Colorado. As of December 31, 2018, it had a total of 3,743 net producing wells. The company was founded in 1909 and is headquartered in Dallas, Texas.

Details
Name: Berry Petroleum Corporation
1P6
Exchange: DB
Founded: 1909
$797,838,411
81,879,170
Website: http://www.berrypetroleum.com
Address: Berry Petroleum Corporation
16000 North Dallas Parkway,
Suite 500,
Dallas,
Texas, 75248,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS BRY New Common Stock Nasdaq Global Select US USD 26. Jul 2017
DB 1P6 New Common Stock Deutsche Boerse AG DE EUR 26. Jul 2017
Number of employees
Current staff
Staff numbers
322
Berry Petroleum employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 22:49
End of day share price update: 2019/06/19 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.