Berry Petroleum Company LLC (NASDAQ:BRY) – Analysts at Piper Jaffray Companies lowered their Q1 2019 earnings per share (EPS) estimates for Berry Petroleum in a note issued to investors on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now expects that the energy company will earn $0.26 per share for the quarter, down from their previous estimate of $0.49. Piper Jaffray Companies currently has a “Buy” rating and a $11.00 target price on the stock. Piper Jaffray Companies also issued estimates for Berry Petroleum’s Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.31 EPS, FY2019 earnings at $1.15 EPS, Q1 2020 earnings at $0.24 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.38 EPS and FY2020 earnings at $1.24 EPS.
BRY has been the topic of several other reports. ValuEngine lowered shares of Berry Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, November 8th. Zacks Investment Research lowered shares of Berry Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. Capital One Financial lowered shares of Berry Petroleum from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. BMO Capital Markets reissued a “buy” rating and set a $13.00 price objective on shares of Berry Petroleum in a report on Monday, January 7th. Finally, KeyCorp initiated coverage on shares of Berry Petroleum in a report on Thursday, December 20th. They set a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $17.38.
Berry Petroleum (NASDAQ:BRY) last issued its quarterly earnings data on Wednesday, November 7th. The energy company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.07). The company had revenue of $142.95 million for the quarter, compared to the consensus estimate of $154.10 million.
Several large investors have recently bought and sold shares of BRY. CarVal Investors LLC acquired a new stake in shares of Berry Petroleum during the third quarter worth $113,803,000. FMR LLC acquired a new position in Berry Petroleum during the third quarter valued at $86,080,000. Alliancebernstein L.P. acquired a new position in Berry Petroleum during the third quarter valued at $81,686,000. CI Investments Inc. acquired a new position in Berry Petroleum during the third quarter valued at $67,373,000. Finally, Venor Capital Management LP acquired a new position in Berry Petroleum during the third quarter valued at $54,513,000. Institutional investors and hedge funds own 79.12% of the company’s stock.
In other news, CEO Arthur T. Smith purchased 5,000 shares of the business’s stock in a transaction on Thursday, December 13th. The shares were acquired at an average cost of $10.22 per share, with a total value of $51,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Gary A. Grove purchased 20,000 shares of the business’s stock in a transaction on Thursday, December 13th. The stock was purchased at an average cost of $10.33 per share, for a total transaction of $206,600.00. The disclosure for this purchase can be found here. 2.22% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be issued a $0.12 dividend. This is a positive change from Berry Petroleum’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 4.67%. The ex-dividend date is Friday, December 14th.
Berry Petroleum 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.
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