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Berry Management
Management criteria checks 1/4
Berry's CEO is Fernando Araujo, appointed in Jan 2023, has a tenure of 2.92 years. total yearly compensation is $3.66M, comprised of 15% salary and 85% bonuses, including company stock and options. directly owns 0.42% of the company’s shares, worth $1.05M. The average tenure of the management team and the board of directors is 2.9 years and 2.8 years respectively.
Key information
Fernando Araujo
Chief executive officer
US$3.7m
Total compensation
| CEO salary percentage | 15.02% |
| CEO tenure | 2.9yrs |
| CEO ownership | 0.4% |
| Management average tenure | 2.9yrs |
| Board average tenure | 2.8yrs |
Recent management updates
Recent updates
Narrative Update • Dec 14
BRY: Carbon Regulation Progress Will Drive Value In Pending All-Stock Merger
Analysts have cut their price target on Berry to $4, reflecting lower fair value estimates and weaker outlooks for revenue growth and margins, despite expected deal synergies and the strategic industrial logic from its combination with California Resources. Analyst Commentary The latest research updates on Berry and its pending combination with California Resources reflect a mixed but increasingly constructive narrative.
Narrative Update • Sep 17
California Reforms And Utah Projects Will Unlock Drilling Opportunities
Analyst price targets for Berry have been revised down from $4.44 to $3.84 as initial optimism over cost synergies and operational alignment from the California Resources acquisition is tempered by concerns over deal valuation and the diminished standalone upside for Berry. Analyst Commentary Bullish analysts highlight that the announced acquisition of Berry by California Resources is strategically logical given the asset overlap and adjacency in California, supporting operational integration.Analysis Article • Aug 15
Growth Investors: Industry Analysts Just Upgraded Their Berry Corporation (NASDAQ:BRY) Revenue Forecasts By 13%
NasdaqGS:BRY 1 Year Share Price vs Fair Value Explore Berry's Fair Values from the Community and select yours...Analysis Article • Jul 03
Improved Revenues Required Before Berry Corporation (NASDAQ:BRY) Stock's 27% Jump Looks Justified
Berry Corporation ( NASDAQ:BRY ) shares have had a really impressive month, gaining 27% after a shaky period...Analysis Article • Jun 25
Is Berry (NASDAQ:BRY) Weighed On By Its Debt Load?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...Seeking Alpha • Jun 18
Berry Corporation: Strong Operating Cost Performance
Summary Berry gets some benefit from stronger oil prices, although it is roughly 75% hedged on oil in 2025. Berry's Q1 2025 lease operating expenses came in at $26.40 per BOE, around 9% lower than its full-year guidance midpoint of $28.90 per BOE. I am not assuming that reduction is sustainable yet, but it would help Berry significantly if it is. A $2 per BOE reduction in lease operating expenses has around the same impact on Berry's post-hedge 2025 free cash flow as a roughly $10 increase in oil prices. Read the full article on Seeking AlphaAnalysis Article • May 11
Berry Corporation (NASDAQ:BRY) Held Back By Insufficient Growth Even After Shares Climb 28%
Berry Corporation ( NASDAQ:BRY ) shareholders are no doubt pleased to see that the share price has bounced 28% in the...Seeking Alpha • Apr 24
Berry Corporation Increases Its Oil Swap Positions
Summary Berry is projected to generate $61 million in 2025 free cash flow at current strip, benefiting from mid-$70s Brent hedges. It converted oil collars and puts to swaps for its 2026 and 2027 hedges. Berry now has around 63% of its 2026 oil production hedged at near-$70s Brent. Those hedges should allow Berry to survive and make its required term loan repayments. However, Berry ability to meaningfully reduce its net debt is limited at near-$70s Brent. Read the full article on Seeking AlphaAnalysis Article • Mar 14
It's Down 28% But Berry Corporation (NASDAQ:BRY) Could Be Riskier Than It Looks
Berry Corporation ( NASDAQ:BRY ) shares have had a horrible month, losing 28% after a relatively good period...Seeking Alpha • Feb 20
Berry Corporation: Increasing Focus On Utah Assets
Summary Berry is planning to put 40% of its 2025 capex to its Utah assets. Utah accounts for around 19% of its total production and 12% of its oil production as of Q3 2024. Berry's Utah production may increase by several percent per year as a percentage of Berry's total production due to the increased spending there. With E&P and Corporate G&A and interest costs adding up to $10+ per BOE, Berry needs reasonably high oil prices to start making more progress on reducing its debt. Although it can tread water at $70 Brent, a high-$70s or better Brent scenario is probably necessary for Berry. Read the full article on Seeking Alpha
New Narrative • Feb 09
Refinancing And Operational Gains In California And Utah May Open Future Opportunities Despite Revenue Challenges
Successful debt refinancing and financial strategies position Berry for strategic opportunities and reduced future interest costs, enhancing shareholder value and net margins.Analysis Article • Jan 18
Berry Corporation (NASDAQ:BRY) Surges 26% Yet Its Low P/E Is No Reason For Excitement
Those holding Berry Corporation ( NASDAQ:BRY ) shares would be relieved that the share price has rebounded 26% in the...Analysis Article • Dec 20
Berry (NASDAQ:BRY) Has A Pretty Healthy Balance Sheet
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Seeking Alpha • Nov 22
Berry Corporation Addresses Its Debt Maturities With A High Interest Rate Term Loan
Summary Berry successfully addressed its near-term debt maturities. Its new term loan may mature in late 2029 if extended. The term loan has a high interest rate of Term SOFR + 7.5%, though. There are also required term loan repayments of 10% of the initial principal per year. Thus, much of Berry's free cash flow will go to term loan repayments, and it reduced its fixed dividend by 75% as a result. Read the full article on Seeking AlphaSeeking Alpha • Oct 01
Berry Corporation: Appears To Have Some Upside Despite Debt Maturity Risks
Summary Berry's 2026 notes mature in 14.5 months, while its credit facility matures in 11 months. Berry may be able to refinance its notes at a higher interest rate. Assuming that it can manage its debt maturities, Berry's free cash flow generation ability appears strong. It may be able to generate $100 million in 2025 free cash flow at current $70 to $71 Brent strip, which is around 25% of its current market cap. Read the full article on Seeking AlphaAnalysis Article • Sep 27
Berry Corporation (NASDAQ:BRY) Looks Inexpensive But Perhaps Not Attractive Enough
You may think that with a price-to-sales (or "P/S") ratio of 0.4x Berry Corporation ( NASDAQ:BRY ) is a stock worth...Analysis Article • Aug 06
Some Investors May Be Worried About Berry's (NASDAQ:BRY) Returns On Capital
When it comes to investing, there are some useful financial metrics that can warn us when a business is potentially in...Seeking Alpha • May 08
Berry Corporation: Exploring Uinta Basin Opportunities
Summary Berry Corporation is projected to generate $143 million in 2024 free cash flow before bolt-on acquisitions. Berry is using bolt-on acquisitions to help maintain production due to the uncertain California regulatory environment around new drill permits. It also entered into a $10 million farm-in agreement to participate in four Uinta wells. Read the full article on Seeking AlphaAnalysis Article • May 05
Berry (NASDAQ:BRY) Has Announced A Dividend Of $0.12
The board of Berry Corporation ( NASDAQ:BRY ) has announced that it will pay a dividend on the 24th of May, with...Analysis Article • Apr 25
News Flash: Analysts Just Made A Substantial Upgrade To Their Berry Corporation (NASDAQ:BRY) Forecasts
Berry Corporation ( NASDAQ:BRY ) shareholders will have a reason to smile today, with the analysts making substantial...Analysis Article • Mar 18
Berry's (NASDAQ:BRY) Conservative Accounting Might Explain Soft Earnings
The market was pleased with the recent earnings report from Berry Corporation ( NASDAQ:BRY ), despite the profit...Seeking Alpha • Feb 27
Berry Corporation: A Look At Valuations After A Solid End To 2023
Summary Berry Corporation's 2023 production ended up 200 BOEPD above the midpoint of its full-year guidance. It also reduced its debt by $25 million in Q4 2023 despite making a minor acquisition in December 2023. The California permitting situation remains uncertain, with minimal new well permit approvals in 2023. The Aera Energy transaction implies a slightly lower valuation for Berry than what I had been modeling, although the market liked the deal from California Resources' perspective. I now estimate Berry Corporation stock value at $8 to $9 per share at long-term high-$70s Brent. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2025 | n/a | n/a | -US$91m |
| Jun 30 2025 | n/a | n/a | US$5m |
| Mar 31 2025 | n/a | n/a | -US$37m |
| Dec 31 2024 | US$4m | US$550k | US$19m |
| Sep 30 2024 | n/a | n/a | US$84m |
| Jun 30 2024 | n/a | n/a | -US$31m |
| Mar 31 2024 | n/a | n/a | US$3m |
| Dec 31 2023 | US$3m | US$525k | US$37m |
| Sep 30 2023 | n/a | n/a | US$47m |
| Jun 30 2023 | n/a | n/a | US$284m |
| Mar 31 2023 | n/a | n/a | US$301m |
| Dec 31 2022 | US$3m | US$480k | US$250m |
| Sep 30 2022 | n/a | n/a | US$187m |
| Jun 30 2022 | n/a | n/a | US$5m |
| Mar 31 2022 | n/a | n/a | -US$51m |
| Dec 31 2021 | US$3m | US$480k | -US$16m |
Compensation vs Market: Fernando's total compensation ($USD3.66M) is above average for companies of similar size in the US market ($USD1.47M).
Compensation vs Earnings: Fernando's compensation has increased whilst the company is unprofitable.
CEO
Fernando Araujo (57 yo)
2.9yrs
Tenure
US$3,662,895
Compensation
Mr. Fernando Araujo is Independent Director of Cadence Bank from January 17, 2025. Mr. Araujo is Chief Executive Officer at Berry Corporation since January 2023. He is Director at Berry Corporation Since M...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 2.9yrs | US$3.66m | 0.42% $ 1.1m | |
| President | 2.9yrs | US$2.53m | 0.45% $ 1.1m | |
| VP & Chief Accounting Officer | 8.1yrs | US$1.41m | 0.18% $ 459.9k | |
| VP & CFO | less than a year | no data | no data | |
| Manager of Investor Relations | no data | no data | no data | |
| VP, General Counsel | less than a year | no data | no data |
2.9yrs
Average Tenure
49.5yo
Average Age
Experienced Management: BRY's management team is considered experienced (2.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 1.8yrs | US$3.66m | 0.42% $ 1.1m | |
| Independent Chairman of the Board | 4.9yrs | US$456.88k | 0.11% $ 290.0k | |
| Independent Director | 1.8yrs | US$258.42k | 0.027% $ 68.5k | |
| Independent Director | 7.3yrs | US$278.79k | 0.18% $ 443.4k | |
| Independent Director | 3.8yrs | US$262.96k | 0.13% $ 341.2k | |
| Independent Director | 1.2yrs | US$49.08k | 0.0068% $ 17.1k |
2.8yrs
Average Tenure
67.5yo
Average Age
Experienced Board: BRY's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/12/19 06:29 |
| End of Day Share Price | 2025/12/17 00:00 |
| Earnings | 2025/09/30 |
| Annual Earnings | 2024/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Berry Corporation is covered by 15 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Rudolf Hokanson | Barrington Research Associates, Inc. |
| Rhett Bruno | BofA Global Research |
| Stephen Richardson | Evercore ISI |