What is Berry (bry) Probability of Financial Distress (%)?
Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, Berry (bry)'s Probability of Financial Distress (%) is 0.07%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Competitive Comparison of Berry (bry)'s Probability of Financial Distress (%)
For the Oil & Gas E&P subindustry, Berry (bry)'s Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Berry (bry)'s Probability of Financial Distress (%) Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Berry (bry)'s Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Berry (bry)'s Probability of Financial Distress (%) falls into.
Berry (bry) Probability of Financial Distress (%) Calculation
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
| LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
| = | -7.32 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.07% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
3. CASHMTA = Cash to Market Total Assets
For non-financial companies, CASHMTA is measured as:
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
| RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
Berry (bry) (Berry (bry)) Business Description
Traded in Other Exchanges
Address
16000 Dallas Parkway, Suite 500, Dallas, TX, USA, 75248
Berry Corp (bry) is a western United States independent upstream energy company with a focus on the conventional, long-lived oil reserves in the San Joaquin basin of California. Its operating segment includes Exploration and Production (E&P) and Well Servicing and Abandonment. The company generates maximum revenue from the Exploration and Production (E&P) segment.
Executives
| Danielle E. Hunter |
officer: EVP, Gen Counsel & Corp Sec |
3990 ROGERDALE RD., HOUSTON TX 77042 |
| Arthur T. Smith |
director, officer: See Remarks |
5201 TRUXTUN AVE., BAKERSFIELD CA 93309 |
| Rajath Shourie |
director |
333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
| Oaktree Capital Management Lp |
director, 10 percent owner |
333 S GRAND AVE 28TH FL, LOS ANGELES CA 90071 |
| Oaktree Value Opportunities Fund Gp, L.p. |
director, 10 percent owner |
333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
| Benefit Street Partners Llc |
director, 10 percent owner |
9 WEST 57TH STREET, SUITE 4920, NEW YORK NY 10019 |
| Oaktree Capital Management Gp, Llc |
10 percent owner |
333 SOUTH GRAND AVE, 28TH FLOOR, LOS ANGELES CA 90071 |
| Bam Partners Trust |
10 percent owner |
181 BAY STREET, SUITE 300, TORONTO A6 M5J 2T3 |
| Atlas Ocm Holdings, Llc |
10 percent owner |
C/O OAKTREE CAPITAL MANAGEMENT, L.P., 333 S. GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
| Brookfield Asset Management Inc. |
10 percent owner |
BROOKFIELD PLACE, 181 BAY ST, STE 100, PO BOX 762, TORONTO A6 M5J2T3 |
| Renee J Hornbaker |
director |
200 S. WILCOX DRIVE, KINGSPORT TN 37660-5280 |
| Fernando Araujo |
officer: EVP & Chief Operating Officer |
16000 N. DALLAS PARKWAY, SUITE 500, DALLAS TX 75248 |
| Kurt E. Neher |
officer: EVP, Business Development |
16000 N. DALLAS PARKWAY, SUITE 500, DALLAS TX 75248 |
| Megan E. Silva |
officer: EVP of Corporate Affairs |
16000 N. DALLAS PARKWAY, SUITE 500, DALLAS TX 75248 |
| Eugene Voiland |
director |
5201 TRUXTUN AVE., BAKERSFIELD CA 93309 |
Berry (bry) (Berry (bry)) Headlines
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