Berry Petroleum (BRY) AI Stock Analysis

• Market Cap: $256.86M
• Dividend Yield: 2.99%
• Average Volume (3M): 957.33K
• Price to Earnings (P/E): 51.4
• Beta (1Y): 0.64
• Revenue Growth: -40.96%
• EPS Growth: N/A
• Country: US
• Employees: 1,070
• Sector: Energy
• Sector Strength: 53
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): 0.00
• Shares Outstanding: 77,601,400
• 10 Day Avg. Volume: 1,191,101
• 30 Day Avg. Volume: 957,329
• PEG Ratio: -0.34
• Price to Book (P/B): 0.43
• Price to Sales (P/S): 0.41
• P/FCF Ratio: 2.95
• Enterprise Value/Market Cap: 2.36
• Enterprise Value/Revenue: 0.79
• Enterprise Value/Gross Profit: 1.46
• Enterprise Value/Ebitda: 4.09
• 1Y Price Target: $4.40
• Price Target Upside: 9.73% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

• Rating: 66 Neutral
• Price Target: $4.50 ▲(12.22% Upside)

Berry Petroleum's overall stock score reflects a stable financial position and strong cash flow management, which are the most significant factors. The earnings call provided positive insights into operational efficiencies and debt reduction. However, the high P/E ratio and overbought technical indicators suggest caution. The company's ability to navigate regulatory challenges and manage capital expenditures will be crucial for future performance.

Positive Factors

Operational Efficiency

Berry's cost savings in Utah demonstrate its ability to enhance operational efficiency, which can lead to improved profitability and competitive advantage in the long term.

Debt Reduction

Berry's proactive debt reduction enhances its financial stability and flexibility, positioning the company for sustainable growth and resilience against market fluctuations.

Strategic Merger

The merger with California Resources is expected to create synergies and enhance cash flow, strengthening Berry's market position and operational capabilities.

Negative Factors

High Capital Expenditures

Elevated capital expenditures could strain Berry's cash flow and limit its ability to invest in other growth opportunities, impacting long-term financial health.

Profitability Challenges

Low net profit margins indicate difficulty in converting revenue into profit, which may hinder Berry's ability to sustain growth and shareholder returns over time.

Regulatory Dependency

Berry's future development projects are contingent on regulatory outcomes, introducing uncertainty and potential delays that could impact long-term strategic plans.

Berry Petroleum Business Overview & Revenue Model

Company Description

Berry Petroleum Company, LLC (NASDAQ: BRY) is a leading independent oil and natural gas exploration and production company based in the United States. The company primarily operates in the onshore regions of California and Utah, focusing on the acquisition, development, and production of crude oil and natural gas. Berry Petroleum utilizes advanced technologies and operational efficiencies to optimize production from its diverse asset portfolio, which includes both conventional and unconventional resources.

How the Company Makes Money

Berry Petroleum generates revenue primarily through the sale of crude oil, natural gas, and natural gas liquids (NGLs). The company’s revenue model is largely dependent on the pricing of these commodities, which can fluctuate based on market conditions. Key revenue streams include direct sales of produced hydrocarbons to refiners and marketers, as well as potential hedging activities to mitigate price volatility. Additionally, Berry Petroleum may engage in joint ventures and partnerships with other companies to enhance its operational capabilities and expand its asset base, which can further contribute to its earnings. The company’s focus on efficient production techniques and cost management also plays a vital role in maintaining profitability in a competitive market.

Berry Petroleum Financial Statement Overview

Summary

Berry Petroleum shows strong operational efficiency and cash flow management, but faces challenges in profitability and revenue growth. The balance sheet is stable with manageable leverage, yet the net loss raises concerns about sustainable profitability.

Income Statement

The company's income statement shows a mixed performance. The gross profit margin for TTM is exceptionally high, indicating efficient cost management, but the net profit margin is negative due to a net loss, signaling profitability issues. Revenue has experienced fluctuations, with a decline in the latest TTM period compared to the previous year. EBIT and EBITDA margins are relatively strong, showing operational efficiency despite revenue challenges.

Balance Sheet

The balance sheet appears stable with a moderate debt-to-equity ratio, indicating a balanced approach to leverage. The equity ratio suggests a strong capital structure with a substantial portion of assets financed by equity. However, the return on equity is negative in the TTM period due to the net loss, highlighting profitability concerns.

Cash Flow

Cash flow analysis reveals a positive trend in free cash flow, showing improvement in cash generation capabilities. The operating cash flow to net income ratio is robust, indicating strong cash flow relative to reported earnings. However, the free cash flow to net income ratio is affected by the negative net income, reflecting challenges in translating profits into cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	765.12M	783.84M	863.45M	1.06B	701.35M	406.05M
Gross Profit	414.52M	444.77M	237.34M	431.62M	269.32M	63.92M
EBITDA	148.30M	239.12M	251.38M	401.10M	163.58M	-96.64M
Net Income	5.03M	19.25M	37.40M	250.17M	-15.54M	-262.89M
Balance Sheet
Total Assets	1.33B	1.52B	1.59B	1.63B	1.46B	1.42B
Cash, Cash Equivalents and Short-Term Investments	19.73M	15.34M	4.83M	46.25M	15.28M	80.56M
Total Debt	364.60M	435.18M	436.06M	397.40M	394.57M	393.48M
Total Liabilities	669.18M	787.05M	836.18M	830.54M	763.83M	705.77M
Stockholders Equity	664.94M	730.64M	757.98M	800.49M	692.65M	714.04M
Cash Flow
Free Cash Flow	120.93M	107.87M	117.59M	222.31M	-10.63M	102.73M
Operating Cash Flow	186.57M	210.22M	198.66M	360.94M	122.49M	196.53M
Investing Cash Flow	-98.34M	-105.56M	-175.27M	-164.55M	-168.79M	-93.62M
Financing Cash Flow	-74.94M	-79.46M	-64.80M	-165.42M	-18.98M	-22.35M

Berry Petroleum Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.01
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRY, the sentiment is Positive. The current price of 4.01 is above the 20-day moving average (MA) of 3.18, above the 50-day MA of 3.08, and above the 200-day MA of 3.31, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 79.53 is Negative, neither overbought nor oversold. The STOCH value of 74.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BRY.

Berry Petroleum Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PNRG	71 Outperform	$281.12M	11.46	18.75%	―	22.97%	-19.37%
BRY	66 Neutral	$256.86M	51.40	0.75%	2.99%	-40.96%	―
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
SJT	61 Neutral	$269.40M	251.97	-6.27%	0.40%	-99.72%	-101.28%
WTI	49 Neutral	$256.63M	―	203.83%	2.30%	-11.53%	-342.58%
EP	49 Neutral	$137.09M	―	-30.24%	―	-10.49%	17.74%
TBN	39 Underperform	$246.67M	―	-10.70%	―	―	―

Berry Petroleum Corporate Events

Berry Petroleum Announces Merger with California Resources

On September 14, 2025, Berry Corporation announced a merger agreement with California Resources Corporation, creating a stronger entity in the California energy market. The all-stock transaction values Berry at approximately $717 million, with CRC shareholders expected to own 94% of the combined company. The merger is anticipated to enhance financial metrics, achieve significant synergies, and maintain a strong balance sheet, positioning the company for long-term growth and operational efficiency.

The most recent analyst rating on (BRY) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Berry Petroleum stock, see the BRY Stock Forecast page.