Berry (NASDAQ:BRY) Shares Gap Down to $7.20

Berry Co. (NASDAQ:BRY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $7.20, but opened at $7.05. Berry shares last traded at $7.03, with a volume of 78,731 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BRY shares. TheStreet lowered Berry from a “b” rating to a “c” rating in a research report on Wednesday, November 1st. Piper Sandler lowered Berry from an “overweight” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Monday, August 14th.

Berry Stock Up 0.4 %

The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average of $8.08 and a 200-day moving average of $7.63. The firm has a market cap of $541.04 million, a price-to-earnings ratio of 13.00 and a beta of 2.09.

Berry (NASDAQ:BRY) last released its earnings results on Wednesday, November 1st. The energy company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.18). The business had revenue of $222.08 million during the quarter, compared to the consensus estimate of $194.82 million. Berry had a return on equity of 13.93% and a net margin of 5.87%. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, sell-side analysts forecast that Berry Co. will post 0.76 EPS for the current fiscal year.

Berry Dividend Announcement

The company also recently declared a None dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, November 14th. This represents a dividend yield of 6.2%. Berry’s dividend payout ratio is currently 87.27%.

Insiders Place Their Bets

In other Berry news, President Danielle E. Hunter sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $8.77, for a total transaction of $131,550.00. Following the completion of the sale, the president now directly owns 148,757 shares in the company, valued at approximately $1,304,598.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Berry

Several large investors have recently made changes to their positions in BRY. Alliancebernstein L.P. increased its position in Berry by 302.2% during the third quarter. Alliancebernstein L.P. now owns 8,847,928 shares of the energy company’s stock worth $66,360,000 after buying an additional 6,648,164 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Berry by 1.3% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,691,200 shares of the energy company’s stock valued at $59,795,000 after acquiring an additional 109,410 shares during the last quarter. BlackRock Inc. raised its stake in shares of Berry by 2.6% in the 2nd quarter. BlackRock Inc. now owns 6,028,474 shares of the energy company’s stock valued at $41,476,000 after acquiring an additional 155,209 shares in the last quarter. FMR LLC lifted its holdings in Berry by 7.1% in the 1st quarter. FMR LLC now owns 5,639,983 shares of the energy company’s stock worth $44,274,000 after purchasing an additional 371,725 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Berry by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,931,738 shares of the energy company’s stock worth $27,050,000 after purchasing an additional 481,956 shares during the period. Institutional investors own 88.74% of the company’s stock.

Berry Company Profile

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.