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Shares of Berry (NASDAQ: BRY) were trading 14.3% higher as of 12:22 p.m. ET Wednesday after the company reported fourth-quarter results before the opening bell that trounced analysts' expectations.
The independent upstream energy company, which focuses on the San Joaquin Basin of California and the Uinta Basin of Utah, reported revenue of $194.7 million, handily exceeding Wall Street's consensus estimate of $187.9 million, while adjusted profits of $0.94 per share blew away estimates of only $0.22 per share.