Berry Petroleum (BRY) Receives a Hold from Wells Fargo

By Carrie Williams

In a report released today, Thomas Hughes CFA from Wells Fargo maintained a Hold rating on Berry Petroleum (BRYResearch Report). The company’s shares closed last Wednesday at $4.71.

According to TipRanks.com, CFA ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -20.0% and a 28.6% success rate. CFA covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Matador Resources, and Oasis Petroleum.

Berry Petroleum has an analyst consensus of Moderate Buy, with a price target consensus of $4.50.

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Based on Berry Petroleum’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $339 million and GAAP net loss of $115 million. In comparison, last year the company earned revenue of $76.54 million and had a GAAP net loss of $34.1 million.

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Berry Corp. is an independent upstream energy company, which engages in the development and production of conventional oil reserves. The company was founded by C. J. Berry in 1909 and is headquartered in Dallas, TX.