Berry Petroleum Company LLC (NASDAQ:BRY) – Stock analysts at Capital One Financial cut their FY2019 earnings per share estimates for Berry Petroleum in a report released on Friday, August 9th. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings of $1.47 per share for the year, down from their prior estimate of $1.58. Capital One Financial currently has a “Overweight” rating on the stock.
Several other brokerages have also recently issued reports on BRY. UBS Group set a $14.00 target price on shares of Berry Petroleum and gave the stock a “buy” rating in a report on Thursday, June 20th. Zacks Investment Research cut shares of Berry Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Berry Petroleum presently has an average rating of “Buy” and an average price target of $16.67.
Berry Petroleum (NASDAQ:BRY) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.11). Berry Petroleum had a net margin of 24.87% and a return on equity of 12.66%. The business had revenue of $170.07 million for the quarter, compared to the consensus estimate of $148.70 million.
In other news, Director Benefit Street Partners Llc sold 5,085,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $9.84, for a total value of $50,036,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.59% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Berry Petroleum by 9.3% during the fourth quarter. BlackRock Inc. now owns 1,236,750 shares of the energy company’s stock worth $10,822,000 after purchasing an additional 105,309 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Berry Petroleum by 1,401.5% during the fourth quarter. Bank of New York Mellon Corp now owns 572,011 shares of the energy company’s stock worth $5,005,000 after purchasing an additional 533,916 shares in the last quarter. Northern Trust Corp lifted its position in shares of Berry Petroleum by 2.6% during the fourth quarter. Northern Trust Corp now owns 196,680 shares of the energy company’s stock worth $1,721,000 after purchasing an additional 4,951 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Berry Petroleum by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 228,827 shares of the energy company’s stock worth $2,002,000 after purchasing an additional 21,612 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Berry Petroleum by 1.6% during the fourth quarter. Bank of America Corp DE now owns 456,130 shares of the energy company’s stock worth $3,991,000 after purchasing an additional 7,384 shares in the last quarter.
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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