KeyCorp Raises Berry (NASDAQ:BRY) Price Target to $9.00

Berry (NASDAQ:BRY) had its price target increased by research analysts at KeyCorp from $8.00 to $9.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the energy company’s stock. KeyCorp’s target price would indicate a potential upside of 11.25% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on BRY. Johnson Rice cut shares of Berry from a “buy” rating to an “accumulate” rating in a research report on Monday, October 4th. Wells Fargo & Company reaffirmed a “sell” rating and set a $7.00 price objective on shares of Berry in a research report on Thursday, July 22nd. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Berry in a research report on Wednesday, August 4th. TheStreet raised shares of Berry from a “d” rating to a “c-” rating in a research report on Wednesday, August 4th. Finally, Zacks Investment Research upgraded shares of Berry from a “hold” rating to a “strong-buy” rating and set a $9.50 price target on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $7.25.

Shares of BRY stock opened at $8.09 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.58. Berry has a 52 week low of $2.52 and a 52 week high of $8.39. The stock has a market capitalization of $651.00 million, a PE ratio of -5.50 and a beta of 2.71. The firm has a 50 day moving average of $6.21 and a two-hundred day moving average of $6.21.

Berry (NASDAQ:BRY) last issued its quarterly earnings results on Tuesday, August 3rd. The energy company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). The business had revenue of $99.25 million during the quarter, compared to analysts’ expectations of $109.27 million. Berry had a negative net margin of 33.93% and a positive return on equity of 2.99%. Analysts expect that Berry will post 0.37 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. FMR LLC increased its stake in Berry by 74.8% in the second quarter. FMR LLC now owns 4,539,365 shares of the energy company’s stock valued at $30,505,000 after purchasing an additional 1,942,139 shares during the period. Renaissance Technologies LLC increased its stake in Berry by 91.0% in the first quarter. Renaissance Technologies LLC now owns 584,708 shares of the energy company’s stock valued at $3,222,000 after purchasing an additional 278,609 shares during the period. Northern Trust Corp increased its stake in Berry by 38.3% in the first quarter. Northern Trust Corp now owns 987,298 shares of the energy company’s stock valued at $5,439,000 after purchasing an additional 273,543 shares during the period. Russell Investments Group Ltd. increased its stake in Berry by 299.8% in the first quarter. Russell Investments Group Ltd. now owns 265,986 shares of the energy company’s stock valued at $1,464,000 after purchasing an additional 199,452 shares during the period. Finally, Geode Capital Management LLC increased its stake in Berry by 21.5% in the first quarter. Geode Capital Management LLC now owns 1,099,390 shares of the energy company’s stock valued at $6,057,000 after purchasing an additional 194,250 shares during the period. Hedge funds and other institutional investors own 91.44% of the company’s stock.

Berry 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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