Berry Co. (BRY) to Issue Quarterly Dividend of $0.12 on August 30th

Berry Co. (NASDAQ:BRY) announced a quarterly dividend on Friday, August 9th, Wall Street Journal reports. Shareholders of record on Friday, August 23rd will be paid a dividend of 0.12 per share by the energy company on Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 7.63%. The ex-dividend date is Friday, August 23rd.

Berry has raised its dividend by an average of 51.8% per year over the last three years. Berry has a dividend payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Berry to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 23.0%.

Berry Trading Down 2.9 %

Shares of Berry stock opened at $6.29 on Wednesday. Berry has a 52 week low of $5.63 and a 52 week high of $8.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a 50 day moving average price of $6.44 and a two-hundred day moving average price of $7.10. The stock has a market capitalization of $483.95 million, a PE ratio of 629.00 and a beta of 1.77.

Berry (NASDAQ:BRY) last issued its quarterly earnings results on Friday, August 9th. The energy company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $197.80 million for the quarter, compared to the consensus estimate of $187.38 million. Berry had a return on equity of 6.15% and a net margin of 0.41%. The business’s revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. As a group, equities analysts anticipate that Berry will post 0.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price objective on Berry from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

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.