Zacks Investment Research upgraded shares of Berry Petroleum (NASDAQ:BRY) from a hold rating to a buy rating in a research note released on Monday morning. Zacks Investment Research currently has $16.00 target price on the energy company’s stock.
According to Zacks, “Berry Petroleum Corporation is an energy company. It engaged in the acquisition, exploration, development and production of domestic oil and natural gas reserves primarily located in the San Joaquin Basin in California, the Uinta Basin in Utah, the Piceance Basin in Colorado and the East Texas Basin in Texas. Berry Petroleum Corporation is based in Bakersfield, CA. “
A number of other analysts have also recently issued reports on BRY. Tudor Pickering started coverage on Berry Petroleum in a research report on Tuesday, August 21st. They issued a buy rating for the company. Capital One Financial started coverage on Berry Petroleum in a research report on Friday, August 24th. They issued an overweight rating and a $24.00 price objective for the company. Goldman Sachs Group started coverage on Berry Petroleum in a research report on Monday, August 20th. They issued a buy rating and a $20.00 price objective for the company. Wells Fargo & Co started coverage on Berry Petroleum in a research report on Monday, August 20th. They issued an outperform rating and a $17.00 price objective for the company. Finally, Evercore ISI started coverage on Berry Petroleum in a research report on Friday, August 24th. They issued an outperform rating and a $18.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating, Berry Petroleum presently has a consensus rating of Buy and an average target price of $20.00.
Berry Petroleum (NASDAQ:BRY) last posted its quarterly earnings results on Wednesday, August 22nd. The energy company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.22). The business had revenue of $65.98 million during the quarter, compared to analysts’ expectations of $118.50 million. On average, research analysts predict that Berry Petroleum will post 1.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Saturday, September 15th were issued a dividend of $0.09 per share. This is a boost from Berry Petroleum’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Thursday, September 13th.
Berry Petroleum Company Profile
Berry Petroleum Company, LLC., formerly Berry Petroleum Company, is an independent energy company. The Company is engaged in the production, development, exploitation, and acquisition of oil and natural gas. The Company’s principal reserves and producing properties are located in California (South Midway-Sunset (SMWSS)-Steam Floods, North Midway-Sunset (NMWSS)-Diatomite, NMWSS-New Steam Floods, Texas (Permian and E.
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