Berry Corporation operates as an independent upstream energy company in the western United States. It operates through Exploration and Production (E&P), and Well Servicing and Abandonment segments. The E&P segment engages in the development and production of onshore, low geologic risk, and long-lived conventional oil and gas reserves primarily located in California and Utah. The Well Servicing and Abandonment segment provides wellsite services in California to oil and natural gas production companies with a focus on well servicing, well abandonment services, and water logistics. The company was founded in 1909 and is headquartered in Dallas, Texas.

Berry Corporation (bry)

In trading on Tuesday, the SPDR S&P Oil & Gas Exploration & Production ETF is outperforming other ETFs, up about 2% on the day. Components of that ETF showing particular strength include shares of Berry, up about 9.3% and shares of PBF Energy, up about 7.1% on the day.
And underperforming other ETFs today is the Invesco Solar ETF, off about 9% in Tuesday afternoon trading. Among components of that ETF with the weakest showing on Tuesday were shares of Sunrun, lower by about 38.1%, and shares of Solaredge Technologies, lower by about 33.5% on the day.
VIDEO: Tuesday's ETF Movers: XOP, TAN
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tuesday's ETF Movers: XOP, TAN

Targa Resources Corp. TRGP is set to report fourth-quarter earnings on Feb. 20. The Zacks Consensus Estimate for earnings is pegged at $1.88 per share and the same for revenues is pinned at $4.08 billion.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Let us delve into the factors that might have influenced TRGP’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.
Highlights of TRGP’s Q3 Earnings & Surprise History
In the last reported quarter, the Houston, TX-based oil and gas storage and transportation company reported earnings of $1.75 per share, which beat the Zacks Consensus Estimate of $1.58. This was primarily due to strong Permian Basin volumes, robust NGL sales and lower product costs in the reported quarter. The company’s revenues totaled $3.9 billion, down 1.1% year over year.
TRGP’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed in the remaining two, delivering an average negative surprise of 1.60%. This is depicted in the graph below:
Targa Resources, Inc. Price and EPS Surprise
Targa Resources, Inc. price-eps-surprise | Targa Resources, Inc. Quote
Trend in TRGP’s Estimate Revision
The Zacks Consensus Estimate for fourth-quarter 2024 earnings has not witnessed any movement in the past seven days. The estimated figure indicates a 52.85% year-over-year bottom-line increase. However, the Zacks Consensus Estimate for revenues indicates a decrease of 3.84% from the year-ago period’s level.
Factors to Consider Ahead of TRGP’s Q4 Release
TRGP makes money by collecting, processing and transporting natural gas, oil and related products like propane. The company moves these products through pipelines, railcars and trucks, stores them, and sells them to other businesses. Targa also provides services to companies like refineries and exports natural gas liquids. In simple terms, TRGP earns by handling and selling energy products and offering services to other companies in the energy industry.
TRGP is expected to have benefited from strong Permian Basin activity in the fourth quarter, driving higher gathering and processing volumes. Our predictions indicate that the fourth-quarter gross NGL production for the Gathering and Processing segment is likely to have increased to 841 MMcf/d, up from 759 MMcf/d recorded in the year-ago period. The company’s increasing focus on fee-based revenues in its Logistics and Transportation segment is likely to have provided earnings stability amid commodity price fluctuations.
Our predictions indicate that the fourth-quarter operating margin for the Gathering and Processing segment is likely to have increased to $620 million, up from $552 million recorded in the year-ago period. Similarly, we expect the fourth-quarter operating margin for the Logistics and Transportation segment to have increased to $624 million, up from $501 million in the year-ago period.
On a bearish note, our predictions indicate a decline in the Gathering and Processing segment's average realized prices for natural gas to $1.78, a drop from $2.16 in the year-ago period. TRP's Gathering and Processing Central in North Texas is anticipated to have experienced a significant decrease in gross NGL production, falling to 21.12 MMcf/d from 24.50 MMcf/d reported in the year-ago period. Likewise, TRP's Gathering and Processing Central in Southok is expected to have seen a decrease in gross NGL production, dropping to 31.15 MMcf/d, down from 40 MMcf/d in the year-ago period.
Similarly, TRP's Gathering and Processing Central in Southtx is forecasted to have experienced a decline in gross NGL production, reducing to 31.15 MMcf/d down from 40 MMcf/d in the year-ago period. Lastly, TRP's Gathering and Processing Central in Coastal is also expected to have seen a decline in gross NGL production, dropping to 31.45 MMcf/d, down from 43.20 MMcf/d during the year-ago period. On a more cautious note, inflationary pressures are likely to have increased operational expenses, with rising input costs and labor expenses potentially affecting overall profitability.
TRGP is likely to have benefited from strong Permian Basin activity, driving higher gathering and processing volumes and improved operating margins in both its Gathering and Processing, and Logistics and Transportation segments. However, declines in natural gas prices and reduced NGL production across several regions could pose challenges
What Does Our Model Predict for TRGP?
The proven Zacks model does not conclusively show an earnings beat for TRGP this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.
Earnings ESP of TRGP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -3.02%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
TRGP’s Zacks Rank: TRGP currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
CNX Resources CNX has an Earnings ESP of +8.94% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Valued at around $4.49 billion, CLMT’s shares have gained 49.6% in a year. Notably, the Zacks Consensus Estimate for CNX’s 2025 earnings per share indicates 26.64% year-over-year growth.
Calumet, Inc. CLMT has an Earnings ESP of +7.11% and a Zacks Rank #2. Valued at around $1.42 billion, CLMT’s shares have lost 5.9 % in a year.
The firm is scheduled to release earnings on Feb. 28. Calumet manufactures, formulates and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets.
Berry BRY has an Earnings ESP of +8.33% and a Zacks Rank #3. The firm is scheduled to release earnings on March 12.
Berry is an independent upstream energy company which focuses on the conventional, long-lived oil reserves principally in the San Joaquin basin of California. Valued at around $334.68 million, BRY’s shares have lost 5.9% in a year.
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What's in Store for Targa Resources Stock in Q4 Earnings?

The energy sector has shown an encouraging turnaround in the initial weeks of 2025 after being a laggard for the past two years. S&P 500 Energy Sector Index has gained 9.2%, outperforming the 2% gain of the S&P 500.
While most energy stocks rallied in the initial weeks, we have highlighted five that are leading the way higher and have further potential to outperform, given their Zacks Rank #1 (Strong Buy) or #2 (Buy). These are Constellation Energy Corporation CEG, Kolibri Global Energy Inc. KGEI, Berry Corporation BRY, Cheniere Energy Inc. LNG and Plains All American Pipeline, L.P. PAA. You can see the complete list of today’s Zacks #1 Rank stocks here.
The solid rebound has been driven by a surge in oil and gas prices amid colder weather, falling U.S. stockpiles and additional sanctions on Russia’s oil sector.
Let’s dig into the factors driving the space:
Cold Weather
Many U.S. states and European cities have been experiencing extreme weather in the initial weeks of 2025, raising concerns about potential disruptions to oil production and refinery operations. The cold snap has raised the demand for heating oil, thereby lifting oil and gas prices.
Declining Inventories
Crude inventories are falling. Per the latest report from the Energy Information Administration (EIA), domestic crude oil stock fell for the seventh time in a row, the longest declining streak since July 2021.
Sanctions
The fresh sanctions on Russian oil producers and tankers have raised concerns about oil supplies. The United States imposed its most aggressive and ambitious sanctions on Russia’s oil industry, targeting two large exporters — Gazprom Neft and Surgutneftegas — and 183 vessels. The move, aimed at curbing the revenues that Moscow uses to fund its war in Ukraine, will disrupt Russian crude supplies to major importers — China and India. This will push the two top buyers to source more oil from the Middle East, Africa and the Americas, thereby boosting oil prices.
Notably, Russia is the second-largest oil exporting country in the world behind Saudi Arabia and the third-largest producer of the commodity behind the United States and Saudi Arabia.
Backwardation: A Bullish View
Currently, Brent and WTI monthly spreads are trading at their widest backwardation since the third quarter of 2024. Later-dated contracts are cheaper than near-term contracts in the oil futures market in backwardation, indicating tight supply and robust demand. A market in backwardation is likely to persist, at least in the near term, acting as the biggest catalyst for the oil.
Increased Long Positions
Speculators ramped up bullish bets on Brent crude oil to a 6-month high by raising their positions in commodity futures and options in the week to Jan. 7, per the U.S. Product Futures Trading Commission (CFTC). Hedge funds also received their biggest weekly boost in lots since Oct. 8.
Stock Winners
Constellation Energy provides electric power, natural gas and energy management services to 2 million customers across the continental United States. The stock surged 41.4% in the initial weeks of 2025. The company saw a solid earnings estimate revision of 19 cents over the past seven days for this year, with an estimated growth rate of 11.1%. CEG boasts a market cap of $98.9 billion.
Constellation Energy has a Zacks Rank #1 and a Momentum Score of A.
Kolibri Global Energy is an international energy company focused on finding and exploiting energy projects in oil, gas and clean and sustainable energy. It surged 24.4% in the initial weeks of 2025. The company has an estimated earnings growth rate of 16.3% for this year and a market cap of $234.8 million.
Kolibri Global Energy has a Zacks Rank #2 and a Value Score of A.
Berry is an independent upstream energy company, which focuses on the conventional, long-lived oil reserves principally in the San Joaquin basin of California. The stock has gained 21.1% in the same time frame. With a market cap of $384.7 million, Berry saw positive earnings estimate revision of 8 cents over the past 30 days for this year.
The stock has a Zacks Rank #2 and a Value Score of A.
Cheniere Energy is primarily engaged in businesses related to liquefied natural gas (or LNG) through its two business segments: LNG terminal and LNG and natural gas marketing. It has a market cap of $56.7 billion and has risen 17.6% in the initial weeks of 2025. The company saw a solid earnings estimate revision of 51 cents over the past 30 days for this year.
Cheniere Energy has a Zacks Rank #2 and a Momentum Score of B.
Plains All American Pipeline, a master limited partnership, is involved in the transportation, storage, and marketing of crude oil, natural gas, natural gas liquids (NGL) and refined products in the United States and Canada. The stock has risen 17.4% in the same timeframe. The company has an estimated earnings growth of 18.6% for this year and a market cap of $14.1 billion.
Plains All American Pipeline has a Zacks Rank #1 and a Value Score of A.
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Constellation Energy Corporation (CEG) : Free Stock Analysis Report
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Energy Turns From Laggard to Leader: 5 Stock Winners

Even with the fluctuating and uncertain conditions in the energy market, upstream companies are experiencing substantial gains from favorable oil prices. Furthermore, integrated energy firms' midstream segments continue to perform well, thanks to consistent revenues from fees associated with pipeline and storage facilities. This strong performance enhances the outlook for Zacks Oil & Gas US Integrated industry.
Leading contenders in the industry poised to capitalize on this favorable business environment include ConocoPhillips COP, Occidental Petroleum Corporation OXY, Cactus Inc WHD and Berry Corporation BRY.
About the Industry
The Zacks Oil & Gas US Integrated industry comprises companies primarily involved in upstream and midstream energy businesses. The upstream operations entail oil and natural gas exploration and production in the prolific shale plays of the United States. The integrated energy companies are also engaged in midstream businesses through gathering and processing facilities along with transportation pipeline networks and storage sites. Overall, the upstream business is positively correlated to oil and gas prices. The produced commodity volumes are transported through midstream assets, generating stable fee-based revenues. The integrated energy players in the United States also have access to downstream operations wherein the transported oil volumes are converted to finished products, comprising gasoline, natural gas liquids and diesel, through refining activities.
3 Trends Shaping the Future of the Industry
High Oil Prices: The price of West Texas Intermediate (“WTI”) crude is hovering around the $80-per-barrel mark, which is extremely favorable for exploration and production activities. Brent price is also handsome, trading at more than $80 per barrel. Per the U.S. Energy Information Administration, the WTI and Brent spot average prices will be $70.31 per barrel and $74.31, respectively, in 2025, suggesting that the upstream business environment will continue to favor integrated players.
Stable Fee-Based Revenues: Integrated companies’ midstream businesses are relatively less exposed to the volatility in commodity prices. This is because pipeline and storage assets are usually booked by shippers for the long term, securing stable fee-based revenues.
Strong Focus on Lowering Emissions: Integrated players in the industry, with operations spreading across the United States and abroad, have recognized climate change as a serious risk that needs to be addressed. The companies are now focused on reducing greenhouse gas emissions and flaring rates.
Zacks Industry Rank Indicates Bullish Outlook
The Zacks Oil & Gas US Integrated industry is a 15-stock group within the broader Zacks Oil - Energy sector. The industry currently carries a Zacks Industry Rank #57, which places it in the top 23% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates bright near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Before we present a few stocks that you may want to consider, let’s take a look at the industry’s recent stock market performance and valuation picture.
Industry Lags S&P 500 & Sector
The Zacks Oil & Gas US Integrated industry has underperformed the broader Zacks Oil - Energy sector and the Zacks S&P 500 composite over the past year.
The industry has gained 1.2% over this period compared with the broader sector’s growth of 16.8% and the S&P 500’s surge of 25.4%.
One-Year Price Performance
Industry's Current Valuation
Since oil and gas companies are debt-laden, it makes sense to value them based on the EV/EBITDA (Enterprise Value/ Earnings before Interest Tax Depreciation and Amortization) ratio. This is because the valuation metric takes into account not just equity but also the level of debt.
Based on the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA), the industry is currently trading at 4.91X, lower than the S&P 500’s 18.23X. It is, however, higher than the sector’s trailing 12-month EV/EBITDA of 3.86X.
Over the past five years, the industry has traded as high as 14.35X and as low as 3.33X, with a median of 5.02X.
Trailing 12-Month Enterprise Value-to EBITDA (EV/EBITDA) Ratio
4 US Integrated Oil Stocks Moving Ahead of the Pack
ConocoPhillips
COP has achieved a promising production outlook by leveraging its extensive drilling inventory and diversified upstream assets. Compared to composite stocks belonging to the industry, the leading upstream energy company has considerably lower exposure to debt capital. This reflects that the company, currently carrying a Zacks Rank #3 (Hold), is better positioned to rely on its strong balance sheet to withstand any adverse business scenario.
Price and Consensus: COP
Occidental Petroleum
Investors are optimistic about oil prices and Occidental Petroleum's strong presence in the upstream sector. OXY, with a Zacks Rank of 3, is actively addressing its substantial debt burden, having reduced it from $47.6 billion in long-term debt as of the third quarter of 2019 to $25.5 billion by the third quarter of 2024.
Price and Consensus: OXY
Berry Corporation
Berry is primarily involved in exploration and production activities, with its operations spreading across low-decline, long-lived oil and gas reserves in California and Utah. The #3 Ranked company can comfortably sail through a volatile energy business environment, banking on its strong liquidity and fortress balance sheet. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price and Consensus: BRY
Cactus
The high crude pricing scenario is favorable for Cactus since it is engaged in selling or renting its products for drilling and completing onshore unconventional oil and gas wells. Cactus, with a Zacks Rank of 3, is dedicated to minimizing its own environmental impact, as well as that of its industry.
Price and Consensus: WHD
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ConocoPhillips (COP) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

4 Must-Watch Energy Stocks From the Prospering Integrated US Industry

Marathon Oil (MRO) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 4.92%. A quarter ago, it was expected that this energy company would post earnings of $0.67 per share when it actually produced earnings of $0.63, delivering a surprise of -5.97%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Marathon Oil, which belongs to the Zacks Oil and Gas - Integrated - United States industry, posted revenues of $1.79 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 4.83%. This compares to year-ago revenues of $1.81 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Marathon Oil shares have added about 14.2% since the beginning of the year versus the S&P 500's gain of 21.2%.
What's Next for Marathon Oil?
While Marathon Oil has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Marathon Oil: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.54 on $1.64 billion in revenues for the coming quarter and $2.37 on $6.58 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Integrated - United States is currently in the bottom 12% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Berry Petroleum (BRY), another stock in the same industry, has yet to report results for the quarter ended September 2024. The results are expected to be released on November 7.
This independent upstream energy company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Berry Petroleum's revenues are expected to be $171 million, up 43.9% from the year-ago quarter.
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Marathon Oil (MRO) Tops Q3 Earnings and Revenue Estimates

The following are today's upgrades for Validea's Book/Market Investor model based on the published strategy of Joseph Piotroski. This value-quant strategy screens for high book-to-market stocks, and then separates out financially sound firms by looking at a host of improving financial criteria.
BERRY CORPORATION (BRY) (BRY) is a small-cap value stock in the Oil & Gas Operations industry. The rating according to our strategy based on Joseph Piotroski changed from 0% to 100% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Berry Corporation (bry) is an independent upstream energy company. The Company operates through two segments: exploration and production (E&P) and well servicing and abandonment (CJWS). The E&P segment consists of the development and production of onshore, low geologic risk, long-lived conventional oil and gas reserves, primarily located in California, as well as Utah. Its California operating area consists of properties located in Midway-Sunset, South Belridge, McKittrick and Poso Creek fields in the San Joaquin basin in Kern County. The Company operates Uinta basin operations in the Brundage Canyon, Ashley Forest, and Lake Canyon areas in Utah. The well servicing and abandonment segment provides wellsite services in California for oil and natural gas production companies, with a focus on well servicing, well abandonment services and water logistics. The Company's subsidiaries include Berry Petroleum Company, LLC; CJ Berry Well Services Management, LLC; and C&J Well Services, LLC.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of BERRY CORPORATION (BRY)
OMV AG (ADR) (OMVKY) is a large-cap value stock in the Oil & Gas Operations industry. The rating according to our strategy based on Joseph Piotroski changed from 0% to 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: OMV Aktiengesellschaft (OMV) is an Austria-based integrated oil and gas company. The Company operates in three business segments: Chemicals & Materials (C&M), Fuels & Feedstock (F&F), and Energy segment. The C&M segment is a provider of advanced and circular polyolefin solutions, base chemicals, fertilizers, and plastics recycling. The F&F segment includes Refining & Marketing (R&M) business, and it focuses on refining crude oil and other feedstocks, it also markets fuels as well as natural gas and power. The Energy segment includes the Exploration & Production (E&P) business as well as the entire gas business and the new Low-Carbon business focused on geothermal energy and carbon capture and storage (CCS). The Company supplies services and products to customers worldwide through OMV and Borealis, and its two joint ventures: Borouge (with ADNOC, based in the United Arab Emirates and Singapore) and Baystar (with TotalEnergies, based in the United States).
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of OMV AG (ADR)
About Joseph Piotroski: Piotroski isn't your typical Wall Street big shot. In fact, he's not even a professional investor. He's a good old numbers-crunching accountant and college professor. But in 2000, shortly after he started teaching at the University of Chicago's Graduate School of Business, Piotroski published a groundbreaking paper in the Journal of Accounting Research entitled "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers". In it, Piotroski laid out an accounting-based stock-selection/shorting method that produced a 23 percent average annual back-tested return from 1976 through 1996 -- more than double the S&P 500's gain during that time. Piotroski's findings were reported in major financial publiations like SmartMoney. Today, he teaches accounting at Stanford University's Graduate School of Business.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Validea Joseph Piotroski Strategy Daily Upgrade Report - 11/15/2023

Berry Corporation BRY is set to report third-quarter 2023 results on Nov 1, before the opening bell.
In the last reported quarter, the upstream energy player’s earnings of 15 cents per share beat the Zacks Consensus Estimate of 1 cent.
Berry’s earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 419.8 %. This is depicted in the graph below:
Let’s delve into the factors that are expected to have influenced BRY’s performance in the to-be-reported quarter.
Berry Corporation Price and EPS Surprise
Estimate Trend
The Zacks Consensus Estimate for third-quarter earnings witnessed three upward revisions in the past 30 days. It is currently pegged at 33 cents per share.
The consensus mark for revenues is pinned at $174.1 million, implying a 53.8% year-over-year decline.
Factors to Consider
The pricing scenario of oil and natural gas was impressive in the third quarter of this year. Per data provided by the U.S. Energy Information Administration, the average West Texas Intermediate crude prices per barrel in July, August and September were $76.07, $81.39 and $89.43, respectively. Although the prices were not as high as in the year-ago quarter, the commodity prices were impressive and healthy.
Like oil, natural gas prices in the September quarter were healthier than in the second quarter, aiding the exploration and production activities of BRY. However, the Zacks Consensus Estimate for total production is pegged at 25.55 thousand barrels of oil equivalent per day (MBOE/D), suggesting a decline from 25.80 MBOE/D in a year-ago quarter.
Earnings Whisper
Our proven model does not predict an earnings beat for Berry this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. But that is not the case here.
Earnings ESP: Berry has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2.
Stocks to Consider
Here are some firms worth considering, as these have the right combination of elements to beat on earnings in the upcoming quarterly reports:
Viper Energy Partners LP VNOM currently has an Earnings ESP of +11.25% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The partnership is scheduled to release third-quarter earnings on Nov 6. The Zacks Consensus Estimate for VNOM’s earnings is pegged at 43 cents per share, suggesting a decline from the year-ago figure.
Devon Energy Corp. DVN has an Earnings ESP of +0.72% and is currently a Zacks #2 Ranked player.
The company is scheduled to release third-quarter results on Nov 7. The Zacks Consensus Estimate for DVN’s earnings is pegged at $1.55 per share.
ConocoPhillips COP has an Earnings ESP of +0.50% and is a Zacks #2 Ranked player at present.
ConocoPhillips is scheduled to release third-quarter results on Nov 2. The Zacks Consensus Estimate for COP’s earnings is pegged at $2.04 per share, suggesting a significant year-over-year decline.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Berry (BRY) to Report Q3 Earnings: What's in the Offing?

Here are three stocks with buy rank and strong value characteristics for investors to consider today, October 16:
Office Properties Income Trust OPI: This real estate investment trust carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.2% over the last 60 days.
Office Properties Income Trust Price and Consensus
Office Properties Income Trust has a price-to-earnings ratio (P/E) of 1.07, compared with 14.40 for the industry. The company possesses a Value Score of A.
Office Properties Income Trust PE Ratio (TTM)
J.Jill, Inc. JILL: This women's apparel retailer company carriesa Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.2% over the last 60 days.
J.Jill, Inc. Price and Consensus
J.Jill has a price-to-earnings ratio (P/E) of 9.89 compared with 11.70 for the industry. The company possesses a Value Score of A.
J.Jill, Inc. PE Ratio (TTM)
Berry Corporation BRY: This upstream energy company carries witnessed the Zacks Consensus Estimate for its current year earnings increasing 210% over the last 60 days.
Berry Corporation Price and Consensus
Berry has a price-to-earnings ratio (P/E) of 13.48 compared with 16.60 for the industry. The company possesses a Value Score of A.
Berry Corporation PE Ratio (TTM)
See the full list of top ranked stocks here.
Learn more about the Value score and how it is calculated here.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.