BRY

BerryNasdaqGS:BRY Stock Report

Market Cap

US$472.4m

7D

-1.0%

1Y

71.6%

Updated

22 Sep, 2021

Data

Company Financials +
BRY fundamental analysis
Snowflake Score
Valuation1/6
Future Growth4/6
Past Performance0/6
Financial Health3/6
Dividends3/6

BRY Overview

Berry Corporation, an independent upstream energy company, engages in the development and production of conventional oil reserves located in the western United States.

Berry Competitors

Pioneer Natural Resources

NYSE:PXD

US$36.1b

Diamondback Energy

NasdaqGS:FANG

US$14.5b

Cimarex Energy

NYSE:XEC

US$7.6b

Chesapeake Energy

NasdaqGS:CHK

US$5.7b

Price History & Performance

Summary of all time highs, changes and price drops for Berry
Historical stock prices
Current Share PriceUS$5.87
52 Week HighUS$2.52
52 Week LowUS$7.25
Beta514.41
1 Month Change18.35%
3 Month Change-13.42%
1 Year Change71.64%
3 Year Change-65.45%
5 Year Changen/a
Change since IPO586,900.00%

Recent News & Updates

Sep 03

Berry Corporation: Increased Cash Flow In 2022 Could Be A Catalyst

Berry has weathered the last couple of years and structured its business to avoid the now outlawed steam fracks that regulators focus on. The company is working well with the state to secure drilling permits and expects to keep 3 rigs active for the rest of the year. The company's long cycle, low cost sandstone completion are very capital efficient, and drive down costs over time. We think Berry presents a reasonable investment case for investors with a high-risk tolerance for growth and increasing income.

Jun 30

Berry Corp.: Limited 2022 Hedges Should Lead To Excellent Results

Berry may be able to generate $125 million in positive cash flow (before hedges) at $65 Brent. Berry only has around 12% of its 2022 oil production hedged. New California regulations should not hamper Berry in the near term. Long-term goal in California is to phase out oil extraction by 2045. Berry's estimated value is $8.25 per share at long-term $65 Brent.

Shareholder Returns

BRYUS Oil and GasUS Market
7D-1.0%-0.9%-1.8%
1Y71.6%55.1%31.5%

Return vs Industry: BRY exceeded the US Oil and Gas industry which returned 52.7% over the past year.

Return vs Market: BRY exceeded the US Market which returned 33% over the past year.

Price Volatility

Is BRY's price volatile compared to industry and market?
BRY volatility
BRY Beta514.41
Industry Beta1.81
Market Beta1

Stable Share Price: BRY is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: BRY's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1909347Trem Smithhttps://www.bry.com

Berry 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, 2020, it had a total of 3,763 net producing wells.

Valuation

Is Berry undervalued compared to its fair value and its price relative to the market?

0.7x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: BRY ($5.87) is trading above our estimate of fair value ($5.23)

Significantly Below Fair Value: BRY is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BRY is unprofitable, so we can't compare its PE Ratio to the US Oil and Gas industry average.

PE vs Market: BRY is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BRY's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BRY is good value based on its PB Ratio (0.7x) compared to the US Oil and Gas industry average (1.7x).


Future Growth

How is Berry forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

97.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BRY is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).

Earnings vs Market: BRY is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: BRY's is expected to become profitable in the next 3 years.

Revenue vs Market: BRY's revenue (18.1% per year) is forecast to grow faster than the US market (9.8% per year).

High Growth Revenue: BRY's revenue (18.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BRY's Return on Equity is forecast to be low in 3 years time (16.8%).


Past Performance

How has Berry performed over the past 5 years?

62.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BRY is currently unprofitable.

Growing Profit Margin: BRY is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BRY is unprofitable, but has reduced losses over the past 5 years at a rate of 62.9% per year.

Accelerating Growth: Unable to compare BRY's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BRY is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-19.4%).


Return on Equity

High ROE: BRY has a negative Return on Equity (-17.22%), as it is currently unprofitable.


Financial Health

How is Berry's financial position?


Financial Position Analysis

Short Term Liabilities: BRY's short term assets ($177.1M) do not cover its short term liabilities ($222.1M).

Long Term Liabilities: BRY's short term assets ($177.1M) do not cover its long term liabilities ($543.8M).


Debt to Equity History and Analysis

Debt Level: BRY's debt to equity ratio (58.1%) is considered high.

Reducing Debt: BRY's debt to equity ratio has reduced from 256.2% to 58.1% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable BRY has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: BRY is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 10.7% per year.


Dividend

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

4.09%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BRY's dividend (4.09%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: BRY's dividend (4.09%) is in the top 25% of dividend payers in the US market (3.65%)


Stability and Growth of Payments

Stable Dividend: BRY has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: BRY has only been paying a dividend for 3 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: BRY is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: BRY's dividends in 3 years are forecast to be thoroughly covered by earnings (9.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Trem Smith (65 yo)

4.5yrs

Tenure

US$9,591,787

Compensation

Mr. Arthur T. Smith, also known as Trem, has been the President, Chief Executive Officer and Director at Berry Petroleum Company, LLC and Berry Corporation since March 2017. Mr. Smith serves as Chairman of...


CEO Compensation Analysis

Compensation vs Market: Trem's total compensation ($USD9.59M) is above average for companies of similar size in the US market ($USD1.68M).

Compensation vs Earnings: Trem's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: BRY's management team is considered experienced (3.8 years average tenure).


Board Members

Experienced Board: BRY's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Berry Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Berry Corporation
  • Ticker: BRY
  • Exchange: NasdaqGS
  • Founded: 1909
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: US$472.365m
  • Shares outstanding: 80.47m
  • Website: https://www.bry.com

Number of Employees


Location

  • Berry Corporation
  • 16000 North Dallas Parkway
  • Suite 500
  • Dallas
  • Texas
  • 75248
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/22 00:11
End of Day Share Price2021/09/21 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.