Berry Petroleum Company LLC (NASDAQ:BRY) – Investment analysts at Piper Jaffray Companies raised their Q2 2019 earnings per share (EPS) estimates for shares of Berry Petroleum in a research report issued on Sunday, May 12th. Piper Jaffray Companies analyst K. Harrison now anticipates that the energy company will earn $0.45 per share for the quarter, up from their previous forecast of $0.43. Piper Jaffray Companies has a “Buy” rating and a $12.00 price target on the stock. Piper Jaffray Companies also issued estimates for Berry Petroleum’s Q3 2019 earnings at $0.48 EPS, Q4 2019 earnings at $0.50 EPS, FY2019 earnings at $1.74 EPS and Q1 2020 earnings at $0.47 EPS.
Berry Petroleum (NASDAQ:BRY) last posted its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Berry Petroleum had a net margin of 18.84% and a return on equity of 13.15%. The company had revenue of $76.54 million during the quarter, compared to analyst estimates of $146.13 million.
BRY opened at $11.10 on Tuesday. Berry Petroleum has a 1-year low of $7.87 and a 1-year high of $18.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $919.50 million and a PE ratio of 8.81.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a yield of 4.32%. Berry Petroleum’s dividend payout ratio (DPR) is presently 38.10%.
In other Berry Petroleum news, Director Benefit Street Partners Llc sold 76,512 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $11.59, for a total transaction of $886,774.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of BRY. Legal & General Group Plc bought a new stake in Berry Petroleum in the 3rd quarter worth approximately $35,000. Great West Life Assurance Co. Can acquired a new stake in shares of Berry Petroleum in the 4th quarter worth approximately $63,000. Marshall Wace North America L.P. acquired a new stake in shares of Berry Petroleum in the 1st quarter worth approximately $63,000. Barclays PLC grew its holdings in shares of Berry Petroleum by 47.6% in the 4th quarter. Barclays PLC now owns 7,323 shares of the energy company’s stock worth $64,000 after acquiring an additional 2,361 shares during the period. Finally, Pearl River Capital LLC grew its holdings in shares of Berry Petroleum by 6,082.0% in the 1st quarter. Pearl River Capital LLC now owns 6,182 shares of the energy company’s stock worth $72,000 after acquiring an additional 6,082 shares during the period. 82.21% of the stock is currently owned by hedge funds and other institutional investors.
About Berry Petroleum
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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