Berry Co. (NASDAQ:BRY) Given Average Rating of “Hold” by Analysts

Berry Co. (NASDAQ:BRYGet Rating) has received an average rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $13.33.

Several brokerages have weighed in on BRY. Piper Sandler lowered their target price on Berry to $15.00 and set a “na” rating for the company in a report on Wednesday, May 18th. Wells Fargo & Company upped their target price on Berry from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Monday, March 14th. Finally, KeyCorp upped their target price on Berry from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, April 14th.

Shares of Berry stock opened at $9.38 on Friday. The stock has a market cap of $757.53 million, a price-to-earnings ratio of -14.66 and a beta of 2.34. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50 day moving average price of $11.08 and a 200-day moving average price of $9.86. Berry has a one year low of $4.72 and a one year high of $12.85.

Berry (NASDAQ:BRYGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The energy company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Berry had a positive return on equity of 8.68% and a negative net margin of 9.37%. The company had revenue of $94.08 million during the quarter, compared to analysts’ expectations of $188.93 million. During the same quarter in the previous year, the business earned $0.07 EPS. Sell-side analysts predict that Berry will post 3.67 earnings per share for the current fiscal year.

The firm also recently announced a dividend, which was paid on Wednesday, June 15th. Investors of record on Monday, May 16th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 13th. Berry’s dividend payout ratio is currently -37.50%.

In other Berry news, major shareholder Benefit Street Partners Llc sold 288,000 shares of the business’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $11.05, for a total transaction of $3,182,400.00. Following the sale, the insider now owns 10,415,275 shares in the company, valued at approximately $115,088,788.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Oaktree Capital Management Lp sold 254,754 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $11.32, for a total value of $2,883,815.28. Following the sale, the insider now owns 12,227,043 shares in the company, valued at approximately $138,410,126.76. The disclosure for this sale can be found here. Insiders have sold a total of 3,607,222 shares of company stock worth $40,914,098 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Berry in the first quarter worth about $31,000. Great West Life Assurance Co. Can boosted its stake in shares of 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 worth $49,000 after buying an additional 1,338 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Berry by 78.2% in the first 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 last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Berry in the first quarter worth about $55,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Berry in the first quarter worth about $63,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.

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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