Berry Co. (NASDAQ:BRY) Given Average Recommendation of “Buy” by Brokerages

Berry Co. (NASDAQ:BRYGet Rating) has been assigned an average rating of “Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $13.00.

BRY has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Berry from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research report on Wednesday, May 18th. Wells Fargo & Company raised their target price on shares of Berry from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Monday, March 14th. KeyCorp raised their target price on shares of Berry from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, April 14th. Finally, Piper Sandler decreased their target price on shares of Berry to $15.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th.

In other Berry news, major shareholder Benefit Street Partners Llc sold 2,000,000 shares of Berry stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $11.38, for a total value of $22,760,000.00. Following the transaction, the insider now owns 10,703,275 shares in the company, valued at approximately $121,803,269.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of BRY. Point72 Hong Kong Ltd purchased a new stake in Berry during the 1st quarter worth $31,000. HITE Hedge Asset Management LLC purchased a new stake in Berry during the 1st quarter worth $1,184,000. Goldman Sachs Group Inc. increased its stake in Berry by 68.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 140,361 shares of the energy company’s stock worth $1,449,000 after buying an additional 56,822 shares during the period. Captrust Financial Advisors increased its stake in Berry by 78.2% during the 1st quarter. Captrust Financial Advisors now owns 4,857 shares of the energy company’s stock worth $50,000 after buying an additional 2,131 shares during the period. Finally, Invesco Ltd. increased its stake in Berry by 139.2% during the 1st quarter. Invesco Ltd. now owns 281,186 shares of the energy company’s stock worth $2,902,000 after buying an additional 163,615 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

BRY stock opened at $10.50 on Monday. The company’s 50 day simple moving average is $10.84 and its 200-day simple moving average is $9.68. The firm has a market capitalization of $847.98 million, a PE ratio of -16.41 and a beta of 2.34. Berry has a 12 month low of $4.72 and a 12 month high of $12.85. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.68.

Berry (NASDAQ:BRYGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The energy company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. The business had revenue of $94.08 million for the quarter, compared to analyst estimates of $188.93 million. Berry had a negative net margin of 9.37% and a positive return on equity of 8.68%. During the same period in the prior year, the business earned $0.07 earnings per share. As a group, sell-side analysts anticipate that Berry will post 3.24 earnings per share for the current year.

The business also recently declared a dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Monday, May 16th will be issued a $0.13 dividend. The ex-dividend date is Friday, May 13th. Berry’s dividend payout ratio (DPR) is presently -37.50%.

Berry Company Profile (Get Rating)

Berry Petroleum Company, LLC., formerly Berry Petroleum Company, is an independent energy company. The Company is engaged in the production, development, exploitation, and acquisition of oil and natural gas. The Company’s principal reserves and producing properties are located in California (South Midway-Sunset (SMWSS)-Steam Floods, North Midway-Sunset (NMWSS)-Diatomite, NMWSS-New Steam Floods, Texas (Permian and E.

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