Centiva Capital LP Buys New Holdings in Berry Co. (NASDAQ:BRY)

Centiva Capital LP purchased a new position in Berry Co. (NASDAQ:BRY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 52,146 shares of the energy company’s stock, valued at approximately $268,000.

Several other institutional investors have also added to or reduced their stakes in the company. ClearAlpha Technologies LP boosted its holdings in shares of Berry by 7.8% in the 3rd quarter. ClearAlpha Technologies LP now owns 55,516 shares of the energy company’s stock worth $285,000 after purchasing an additional 3,998 shares during the period. Paloma Partners Management Co increased its stake in Berry by 125.8% in the third quarter. Paloma Partners Management Co now owns 50,490 shares of the energy company’s stock worth $260,000 after purchasing an additional 28,132 shares during the period. PDT Partners LLC boosted its position in Berry by 20.1% in the 3rd quarter. PDT Partners LLC now owns 98,730 shares of the energy company’s stock valued at $507,000 after buying an additional 16,522 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Berry by 8.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 306,951 shares of the energy company’s stock valued at $1,578,000 after purchasing an additional 22,709 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Berry by 78.7% during the third quarter. BNP Paribas Financial Markets now owns 35,769 shares of the energy company’s stock valued at $184,000 after buying an additional 15,753 shares during the period. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their price objective on shares of Berry from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th.

Berry Stock Performance

Shares of BRY opened at $4.28 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The firm has a market cap of $329.30 million, a PE ratio of 3.96 and a beta of 1.67. Berry Co. has a 12 month low of $3.87 and a 12 month high of $8.88. The stock has a fifty day moving average price of $4.75 and a 200-day moving average price of $5.68.

Berry (NASDAQ:BRY) last posted its quarterly earnings results on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Berry had a return on equity of 6.50% and a net margin of 9.40%. The company had revenue of $259.80 million during the quarter, compared to analysts’ expectations of $186.67 million. During the same period in the prior year, the business posted $0.15 EPS. The company’s quarterly revenue was up 31.3% on a year-over-year basis. Equities research analysts predict that Berry Co. will post 0.6 earnings per share for the current fiscal year.

Berry Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Friday, November 15th. Berry’s payout ratio is 11.11%.

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.