Bank of America Corp DE Has $2.03 Million Stake in Berry Co. (NASDAQ:BRY)

Bank of America Corp DE increased its position in Berry Co. (NASDAQ:BRY) by 31.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 490,468 shares of the energy company’s stock after acquiring an additional 116,220 shares during the period. Bank of America Corp DE’s holdings in Berry were worth $2,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in Berry by 95.1% in the fourth quarter. BNP Paribas Financial Markets now owns 69,795 shares of the energy company’s stock worth $288,000 after acquiring an additional 34,026 shares in the last quarter. Algert Global LLC lifted its stake in shares of Berry by 311.8% in the 4th quarter. Algert Global LLC now owns 92,570 shares of the energy company’s stock valued at $382,000 after purchasing an additional 70,090 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Berry by 357.5% in the 4th quarter. Jane Street Group LLC now owns 187,655 shares of the energy company’s stock valued at $775,000 after purchasing an additional 146,634 shares during the last quarter. Comerica Bank increased its position in Berry by 30.1% during the fourth quarter. Comerica Bank now owns 31,223 shares of the energy company’s stock worth $129,000 after buying an additional 7,219 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in Berry during the fourth quarter worth $1,112,000. Institutional investors own 94.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Johnson Rice raised Berry from an “accumulate” rating to a “buy” rating in a research report on Wednesday, May 21st.

Berry Stock Up 0.8%

BRY opened at $2.41 on Tuesday. The firm has a market cap of $187.01 million, a P/E ratio of 2.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50 day moving average price of $2.60 and a 200 day moving average price of $3.60. Berry Co. has a twelve month low of $2.11 and a twelve month high of $7.02.

Berry (NASDAQ:BRY) last released its quarterly earnings results on Thursday, May 8th. The energy company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $182.65 million for the quarter, compared to analyst estimates of $177.00 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. Research analysts forecast that Berry Co. will post 0.58 EPS for the current year.

Berry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, May 19th were paid a $0.03 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 4.98%. Berry’s payout ratio is presently -25.53%.

About Berry

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.