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BRY - Berry Petroleum News Story

$6.45 -0.5  -7.6%

Last Trade - 25/02/20

Mid Cap
Market Cap £437.3m
Enterprise Value £748.6m
Revenue £558.2m
Position in Universe 2871st / 6407

BUZZ-Berry Petroleum: Slips on tougher fracking rules in California

Wed 20th November, 2019 2:14pm
** Shares of oil driller Berry Petroleum Corp  BRY.O  down
10.5% at $7.96 premarket
    ** Multiple brokerages cut ratings and PT on stock after
California Department of Conservation on Tuesday unveiled new
regulations for drillers*:nL2N27Z1MD
    ** New measures include a moratorium on an extraction
technique that uses high-pressure steam to break up oil
formations underground, which has been linked to a spill at the
Cymric oil field in Kern County this year
    ** BMO downgrades shares to "market perform" from
"outperform", cites increased regulatory uncertainty that will
be an overhang to share price
    ** KeyBanc cuts to "underweight" from "sector weight", says
regulations could result in loss of production volume in future
    ** Piper Jaffray lowers PT to $12 from $15; Capital One
Securities cuts PT to $12 from $14
    ** Five of nine brokerages rate the stock "buy" or higher,
three "hold" and one "sell"; their median PT is $12
    ** BRY up 1.7% this year through Tuesday's close

 (Reporting by Shradha Singh in Bengaluru)
 ((; within U.S. +1 646 223 8780
Ext: 2439, outside U.S. +91 80 6749 2439;))
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