Berry Co. (NASDAQ:BRY – Get Rating) – Stock analysts at Capital One Financial increased their Q2 2022 EPS estimates for Berry in a research report issued to clients and investors on Wednesday, May 18th. Capital One Financial analyst B. Velie now expects that the energy company will earn $0.73 per share for the quarter, up from their previous forecast of $0.47. Capital One Financial also issued estimates for Berry’s Q3 2022 earnings at $0.78 EPS, Q4 2022 earnings at $0.83 EPS, FY2022 earnings at $2.85 EPS, Q1 2023 earnings at $0.72 EPS, Q2 2023 earnings at $0.79 EPS, Q3 2023 earnings at $0.88 EPS, Q4 2023 earnings at $0.97 EPS and FY2023 earnings at $3.35 EPS.
Several other equities research analysts have also recently issued reports on BRY. Piper Sandler decreased their price objective on Berry to $15.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. KeyCorp raised their price objective on Berry from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, April 14th. Zacks Investment Research upgraded Berry from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, May 18th. Finally, Wells Fargo & Company increased their target price on Berry from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Monday, March 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $13.00.
Berry (NASDAQ:BRY – Get Rating) last announced its earnings results on Wednesday, May 4th. The energy company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $94.08 million for the quarter, compared to analysts’ expectations of $188.93 million. Berry had a positive return on equity of 8.68% and a negative net margin of 9.37%. During the same quarter in the prior year, the firm earned $0.07 EPS.
A number of hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can boosted its stake in Berry by 41.6% in the first quarter. Great West Life Assurance Co. Can now owns 4,554 shares of the energy company’s stock valued at $49,000 after acquiring an additional 1,338 shares during the period. Rhumbline Advisers boosted its stake in Berry by 1.5% in the fourth quarter. Rhumbline Advisers now owns 94,937 shares of the energy company’s stock valued at $799,000 after acquiring an additional 1,436 shares during the period. Deutsche Bank AG raised its holdings in shares of Berry by 4.9% during the fourth quarter. Deutsche Bank AG now owns 40,949 shares of the energy company’s stock valued at $345,000 after buying an additional 1,919 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Berry by 78.2% during the first quarter. Captrust Financial Advisors now owns 4,857 shares of the energy company’s stock valued at $50,000 after buying an additional 2,131 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Berry by 43.5% during the third quarter. Royal Bank of Canada now owns 8,669 shares of the energy company’s stock valued at $63,000 after buying an additional 2,626 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.
In related news, major shareholder Benefit Street Partners Llc sold 2,000,000 shares of Berry stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $11.38, for a total value of $22,760,000.00. Following the completion of the transaction, the insider now directly owns 10,703,275 shares in the company, valued at $121,803,269.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.
The firm also recently announced a dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Monday, May 16th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, May 13th. Berry’s dividend payout ratio is presently -37.50%.
About Berry (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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