A Look At Berry Corporation's Potential 2023 Results

Feb. 24, 2023 6:04 AM ETBerry Corporation (BRY) StockBRY8 Comments

Summary

  • Berry is doubling its fixed dividend to $0.12 per quarter.
  • Berry is planning on devoting more free cash flow to share and debt repurchases in 2023 compared to 2022 and focusing less on variable dividends.
  • Berry's total dividend for 2023 is currently projected at approximately $0.80 per share.
  • Berry is continuing to deal with higher operating expenses, with net operating expenses approaching $29 per BOE for 2023.
  • Berry is projected to generate a bit over $2 per share in positive cash flow in 2023, albeit with some production declines from Q4 2022 levels.
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Berry Corporation (NASDAQ:BRY) announced that it was doubling its quarterly fixed dividend from $0.06 per share to $0.12 per share. It also expanded its share repurchase authorization to $200 million.

Berry is focusing less on variable dividends in 2023, so

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This article was written by

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Aaron Chow, aka Elephant Analytics has 15+ years of analytical experience and is a top rated analyst on TipRanks. Aaron previously co-founded a mobile gaming company (Absolute Games) that was acquired by PENN Entertainment. He used his analytical and modeling skills to design the in-game economic models for two mobile apps with over 30 million in combined installs. He is the author of the investing group Distressed Value Investing, which focuses on both value opportunities and distressed plays, with a significant focus on the energy sector. Learn more>>

Analyst’s Disclosure:I/we have a beneficial long position in the shares of BRY either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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