BMO Capital Thinks Berry Petroleum Corp’s Stock is Going to Recover


BMO Capital analyst Phillip Jungwirth reiterated a Buy rating on Berry Petroleum Corp (BRY) today and set a price target of $13. The company’s shares opened today at $9.63, close to its 52-week low of $7.87.

According to TipRanks.com, Jungwirth is a 1-star analyst with an average return of -3.3% and a 40.5% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Whiting Petroleum Corp, and Continental Resources.

Berry Petroleum Corp has an analyst consensus of Moderate Buy, with a price target consensus of $20.33.

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Based on Berry Petroleum Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $36.99 million. In comparison, last year the company had a GAAP net loss of $40.45 million.

Based on the recent corporate insider activity of 16 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Berry Petroleum Corp. is an independent upstream energy company, which engages in the development and production of conventional oil reserves. The company was founded in 1909 and is headquartered in Bakersfield, CA.

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