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Berry Petroleum (BRY) Gains But Lags Market: What You Should Know

Zacks Equity Research
·3 min read

In the latest trading session, Berry Petroleum (BRY) closed at $2.26, marking a +0.89% move from the previous day. This change lagged the S&P 500's 7.03% gain on the day. Meanwhile, the Dow gained 7.73%, and the Nasdaq, a tech-heavy index, added 7.33%.

Heading into today, shares of the independent upstream energy company had lost 61.84% over the past month, lagging the Oils-Energy sector's loss of 29.31% and the S&P 500's loss of 16.9% in that time.

Investors will be hoping for strength from BRY as it approaches its next earnings release. On that day, BRY is projected to report earnings of $0.24 per share, which would represent a year-over-year decline of 20%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $158.30 million, up 106.82% from the year-ago period.

BRY's full-year Zacks Consensus Estimates are calling for earnings of $0.85 per share and revenue of $566.20 million. These results would represent year-over-year changes of -37.04% and +1.21%, respectively.

Investors might also notice recent changes to analyst estimates for BRY. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 25.5% lower within the past month. BRY is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note BRY's current valuation metrics, including its Forward P/E ratio of 2.64. This valuation marks a discount compared to its industry's average Forward P/E of 6.91.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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