Foundry Partners LLC Trims Stock Holdings in Berry Co. (NASDAQ:BRY)

Foundry Partners LLC reduced its stake in Berry Co. (NASDAQ:BRY) by 16.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 756,064 shares of the energy company’s stock after selling 149,706 shares during the quarter. Foundry Partners LLC’s holdings in Berry were worth $3,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Federated Hermes Inc. purchased a new position in Berry during the second quarter worth about $25,000. Gladius Capital Management LP purchased a new position in Berry during the second quarter worth about $27,000. CWM LLC raised its holdings in shares of Berry by 287.4% in the 2nd quarter. CWM LLC now owns 4,560 shares of the energy company’s stock worth $29,000 after purchasing an additional 3,383 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Berry by 43.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock worth $47,000 after purchasing an additional 2,186 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of Berry in the 2nd quarter worth about $50,000. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price objective on Berry from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Monday.

Berry Stock Performance

Berry stock opened at $4.26 on Friday. The stock’s 50-day moving average is $5.10 and its 200-day moving average is $6.02. The company has a market cap of $327.76 million, a price-to-earnings ratio of 3.88 and a beta of 1.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. Berry Co. has a 12 month low of $4.10 and a 12 month high of $8.88.

Berry (NASDAQ:BRY) last posted its earnings results on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Berry had a net margin of 9.40% and a return on equity of 6.50%. The company had revenue of $259.80 million during the quarter, compared to analyst estimates of $186.67 million. During the same quarter last year, the business posted $0.15 EPS. Berry’s quarterly revenue was up 31.3% compared to the same quarter last year. Equities analysts anticipate that Berry Co. will post 0.6 earnings per share for the current year.

Berry Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a yield of 2.82%. Berry’s dividend payout ratio (DPR) is presently 11.11%.

Berry 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.