Zacks Investment Research upgraded shares of Berry Petroleum (NASDAQ:BRY) from a strong sell rating to a hold rating in a report released on Monday morning.
According to Zacks, “Berry Petroleum Corporation is an energy company. It engaged in the acquisition, exploration, development and production of domestic oil and natural gas reserves primarily located in the San Joaquin Basin in California, the Uinta Basin in Utah, the Piceance Basin in Colorado and the East Texas Basin in Texas. Berry Petroleum Corporation is based in Bakersfield, CA. “
A number of other equities analysts also recently issued reports on the stock. Capital One Financial downgraded shares of Berry Petroleum from an overweight rating to an equal weight rating in a research note on Thursday, December 20th. KeyCorp began coverage on shares of Berry Petroleum in a research note on Thursday, December 20th. They issued a sector weight rating for the company. BMO Capital Markets restated a buy rating and issued a $13.00 target price on shares of Berry Petroleum in a research note on Monday, January 7th. Finally, Piper Jaffray Companies restated a buy rating and issued a $12.00 target price on shares of Berry Petroleum in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $17.50.
Berry Petroleum (NASDAQ:BRY) last released its quarterly earnings data on Wednesday, March 6th. The energy company reported $0.41 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.41. The business had revenue of $280.35 million for the quarter, compared to the consensus estimate of $157.20 million. On average, equities analysts predict that Berry Petroleum will post 1.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.48 annualized dividend and a yield of 4.10%. Berry Petroleum’s dividend payout ratio (DPR) is 38.10%.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. raised its holdings in shares of Berry Petroleum by 2.7% in the fourth quarter. Macquarie Group Ltd. now owns 61,797 shares of the energy company’s stock worth $541,000 after buying an additional 1,607 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Berry Petroleum in the third quarter worth $35,000. Barclays PLC raised its holdings in shares of Berry Petroleum by 47.6% in the fourth quarter. Barclays PLC now owns 7,323 shares of the energy company’s stock worth $64,000 after buying an additional 2,361 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Berry Petroleum by 2.6% in the fourth quarter. Northern Trust Corp now owns 196,680 shares of the energy company’s stock worth $1,721,000 after buying an additional 4,951 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Berry Petroleum by 55.9% in the fourth quarter. Rhumbline Advisers now owns 16,761 shares of the energy company’s stock worth $147,000 after buying an additional 6,013 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.
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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