Oaktree Capital Management Lp Sells 1,000,000 Shares of Berry Co. (NASDAQ:BRY) Stock

Berry Co. (NASDAQ:BRYGet Rating) major shareholder Oaktree Capital Management Lp sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $9.60, for a total transaction of $9,600,000.00. Following the sale, the insider now owns 6,797,000 shares in the company, valued at approximately $65,251,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Oaktree Capital Management Lp also recently made the following trade(s):

  • On Thursday, October 13th, Oaktree Capital Management Lp sold 2,825,000 shares of Berry stock. The stock was sold at an average price of $8.50, for a total transaction of $24,012,500.00.
  • On Friday, October 7th, Oaktree Capital Management Lp sold 1,000,000 shares of Berry stock. The stock was sold at an average price of $9.00, for a total transaction of $9,000,000.00.

Berry Stock Up 0.7 %

Shares of BRY opened at $9.22 on Friday. The firm has a market cap of $707.80 million, a PE ratio of 4.08 and a beta of 2.25. The company’s fifty day moving average is $8.67 and its two-hundred day moving average is $9.12. Berry Co. has a fifty-two week low of $6.78 and a fifty-two week high of $12.85. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51.

Berry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Tuesday, November 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Monday, November 14th. Berry’s dividend payout ratio is presently 10.62%.

Hedge Funds Weigh In On Berry

A number of hedge funds have recently made changes to their positions in the business. Credit Suisse AG raised its stake in shares of Berry by 54.6% in the 3rd quarter. Credit Suisse AG now owns 140,898 shares of the energy company’s stock valued at $1,057,000 after acquiring an additional 49,748 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Berry by 22.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,676,137 shares of the energy company’s stock valued at $20,072,000 after acquiring an additional 483,221 shares during the period. LSV Asset Management raised its stake in shares of Berry by 51.1% in the 3rd quarter. LSV Asset Management now owns 78,867 shares of the energy company’s stock valued at $592,000 after acquiring an additional 26,667 shares during the period. Virtu Financial LLC purchased a new position in shares of Berry in the 3rd quarter valued at $88,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Berry by 35.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 30,982 shares of the energy company’s stock valued at $254,000 after acquiring an additional 8,082 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. TheStreet upgraded shares of Berry from a “c” rating to a “b-” rating in a research report on Wednesday, November 2nd. Piper Sandler decreased their price target on shares of Berry from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Tuesday, October 18th. Finally, Jefferies Financial Group started coverage on shares of Berry in a report on Wednesday, October 19th. They issued a “buy” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Berry currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

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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Insider Buying and Selling by Quarter for Berry (NASDAQ:BRY)

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