Berry (NASDAQ:BRY) Issues Earnings Results, Misses Estimates By $0.16 EPS

Berry (NASDAQ:BRYGet Rating) released its quarterly earnings data on Wednesday. The energy company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.16), Fidelity Earnings reports. Berry had a return on equity of 17.78% and a net margin of 0.74%. During the same quarter in the prior year, the firm earned ($0.08) EPS.

Berry Stock Performance

Shares of BRY stock opened at $9.17 on Friday. The stock has a market capitalization of $740.57 million, a PE ratio of 229.31 and a beta of 2.36. Berry has a one year low of $4.72 and a one year high of $12.85. The business’s 50 day simple moving average is $8.70 and its 200 day simple moving average is $9.71. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.78 and a quick ratio of 0.68.

Berry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Monday, August 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, August 12th. Berry’s payout ratio is presently 600.15%.

Insiders Place Their Bets

In related news, major shareholder Benefit Street Partners Llc sold 538,761 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $11.39, for a total value of $6,136,487.79. Following the transaction, the insider now directly owns 7,739,398 shares in the company, valued at approximately $88,151,743.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $11.30, for a total transaction of $2,164,978.30. Following the completion of the sale, the insider now directly owns 11,622,000 shares of the company’s stock, valued at approximately $131,328,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Benefit Street Partners Llc sold 538,761 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $11.39, for a total value of $6,136,487.79. Following the transaction, the insider now owns 7,739,398 shares of the company’s stock, valued at approximately $88,151,743.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,607,222 shares of company stock worth $18,154,098. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Berry

Large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. purchased a new position in shares of Berry during the 2nd quarter valued at about $353,000. Bank of America Corp DE increased its stake in Berry by 14.0% in the 1st quarter. Bank of America Corp DE now owns 235,693 shares of the energy company’s stock worth $2,432,000 after purchasing an additional 28,855 shares during the period. Point72 Hong Kong Ltd purchased a new position in Berry in the 1st quarter worth approximately $31,000. Goldman Sachs Group Inc. increased its stake in Berry by 68.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 140,361 shares of the energy company’s stock worth $1,449,000 after purchasing an additional 56,822 shares during the period. Finally, Captrust Financial Advisors increased its stake in Berry by 78.2% in the 1st quarter. Captrust Financial Advisors now owns 4,857 shares of the energy company’s stock worth $50,000 after purchasing an additional 2,131 shares during the period. Institutional investors own 92.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler dropped their price target on Berry from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. KeyCorp boosted their price target on Berry from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, April 14th.

Berry Company Profile

(Get Rating)

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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Earnings History for Berry (NASDAQ:BRY)

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