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In a challenging year for energy companies, Berry Petroleum Corp (NASDAQ:BRY) stock has touched a 52-week low, reaching a price level of $3.35. Despite the downturn, the company maintains an attractive 8.5% dividend yield and has consistently paid dividends for seven consecutive years, according to InvestingPro data. The decline reflects a broader trend in the sector, with Berry Petroleum experiencing a significant 1-year change, plummeting by -52.64%. This downturn has been influenced by a complex mix of market volatility, fluctuating oil prices, and investor concerns over future energy demands. As Berry navigates through these headwinds, stakeholders are closely monitoring the company’s strategies for recovery and resilience in a rapidly evolving energy landscape. The company maintains a "GOOD" financial health score, and analysts have set price targets ranging from $5 to $8, suggesting potential upside from current levels. Based on comprehensive analysis, InvestingPro’s Fair Value calculation indicates that the stock is currently undervalued.
In other recent news, Berry Petroleum Corporation reported fourth-quarter earnings and revenue that exceeded analyst expectations. The company posted adjusted earnings per share of $0.21, surpassing the consensus estimate of $0.12. Revenue for the quarter reached $187.78 million, beating the expected $177.33 million. For the full year 2024, Berry reported a net income of $19 million, or $0.25 per diluted share, with adjusted net income at $52 million, or $0.68 per diluted share. The company also generated $210 million in operating cash flow and $108 million in free cash flow for the year. Production in the fourth quarter averaged 26.1 thousand barrels of oil equivalent per day, marking a 5% increase from the previous quarter. Berry Petroleum announced plans for 2025, expecting full-year production of 24.8-26.0 MBoe/d and capital expenditures of $110-120 million. Additionally, the company declared a quarterly dividend of $0.03 per share.
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