BERRY CORPORATION (bry) ADJUSTS 2020 PLANS; HEIGHTENED FOCUS ON BUILDING CASH IN 2020 AND ENSURING FLEXIBILITY THROUGH 2021
Berry Corporation (bry) (BRY)
Last berry corporation (bry) earnings: 2/26 09:07 pm
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Source: GlobeNewswire
DALLAS, April 01, 2020 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ:BRY) (the “Company” or “Berry”) today provided updated guidance in response to current market conditions. As of March 31, 2020, the Company has: Reduced planned 2020 capital expenditures by approximately 50% from original 2020 budget midpoint of guidance, which is a nearly 70% reduction from 2019 actualTargeted 2020 production as being flat to down 2% from 2019, which is consistent with our low corporate decline rateTemporarily suspended its regular quarterly dividend until oil prices recoverReduced non-employee annualized General and Administrative expenses by more than $5 millionEnhanced its hedge portfolio with nearly 100% of California oil hedged in 2020 and additional 2021 hedge positions, resulting in a total hedge book worth more than $187 millionVisibility to an estimated 2020 year-end cash balance, based on March 23, 2020 strip and current differentials, of $90-$110 million In addition, as of March
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News
- Berry Co. (NASDAQ: BRY) had its price target lowered by analysts at Piper Sandler from $7.00 to $5.00. They now have a "neutral" rating on the stock.MarketBeat
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- 5 Broker Liked Stocks to Keep an Eye on After Recent Analyst Upgrades [Yahoo! Finance]Yahoo! Finance
BRY
Earnings
- 11/7/24 - Miss
BRY
Sec Filings
- 12/9/24 - Form 8-K
- 11/20/24 - Form 8-K
- 11/12/24 - Form SC
- BRY's page on the SEC website