Wells Fargo’s Analyst Provides Guidance for This Canadian Energy Company

By Austin Angelo

Wells Fargo analyst Thomas Hughes CFA maintained a Hold rating on Berry Petroleum (BRYResearch Report) yesterday. The company’s shares closed last Thursday at $3.29, close to its 52-week low of $1.82.

According to TipRanks.com, CFA is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -12.6% and a 36.7% success rate. CFA covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Whiting Petroleum Corporation, and Northern Oil And Gas.

The word on The Street in general, suggests a Hold analyst consensus rating for Berry Petroleum with a $5.00 average price target.

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Based on Berry Petroleum’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $33.45 million and GAAP net loss of $64.9 million. In comparison, last year the company earned revenue of $170 million and had a net profit of $31.97 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BRY in relation to earlier this year.

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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.