Barrington Research Starts Berry Petroleum (BRY) at Outperform; Production Growth Along With Total Liquidity
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Price: $8.67 +0.46%
Rating Summary:
6 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
6 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Barrington Research initiates coverage on Berry Petroleum (NYSE: BRY) with an Outperform. PT $50.00.
Analyst, Rudolf A. Hokanson, said, "Berry Petroleum has approximately 70% of proved reserves and production based in oil. The last several years, they have been increasingly focused on enhancing that profile further. We estimate the company will have over 79% of their production be oil and liquids in 2013 and well over 80% in 2015 as oil production continues to grow."
"Total liquidity is currently estimated to be $824 million (April) as executives have been adept at managing their debt and credit facilities to keep their capital costs and returns attractive while fueling steady growth."
For an analyst ratings summary and ratings history on Berry Petroleum click here. For more ratings news on Berry Petroleum click here.
Shares of Berry Petroleum closed at $39.01 yesterday.
Analyst, Rudolf A. Hokanson, said, "Berry Petroleum has approximately 70% of proved reserves and production based in oil. The last several years, they have been increasingly focused on enhancing that profile further. We estimate the company will have over 79% of their production be oil and liquids in 2013 and well over 80% in 2015 as oil production continues to grow."
"Total liquidity is currently estimated to be $824 million (April) as executives have been adept at managing their debt and credit facilities to keep their capital costs and returns attractive while fueling steady growth."
For an analyst ratings summary and ratings history on Berry Petroleum click here. For more ratings news on Berry Petroleum click here.
Shares of Berry Petroleum closed at $39.01 yesterday.
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