CI Investments Inc. purchased a new stake in Berry Petroleum Company LLC (NASDAQ:BRY) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,823,643 shares of the energy company’s stock, valued at approximately $67,373,000. CI Investments Inc. owned about 4.70% of Berry Petroleum at the end of the most recent quarter.
Several other large investors have also made changes to their positions in BRY. Rhumbline Advisers bought a new stake in Berry Petroleum in the third quarter worth about $189,000. Bank of New York Mellon Corp bought a new stake in Berry Petroleum in the third quarter worth about $672,000. Cedar Capital LLC bought a new stake in Berry Petroleum in the third quarter worth about $1,637,000. Mobius Capital Management LLC bought a new stake in Berry Petroleum in the third quarter worth about $2,611,000. Finally, JPMorgan Chase & Co. bought a new stake in Berry Petroleum in the third quarter worth about $3,950,000. 79.13% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on BRY shares. Tudor Pickering started coverage on shares of Berry Petroleum in a research note on Tuesday, August 21st. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Berry Petroleum from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, October 29th. Johnson Rice began coverage on shares of Berry Petroleum in a research report on Monday, August 20th. They set a “buy” rating and a $20.00 target price on the stock. UBS Group began coverage on shares of Berry Petroleum in a research report on Monday, August 20th. They set a “buy” rating on the stock. Finally, Goldman Sachs Group began coverage on shares of Berry Petroleum in a research report on Monday, August 20th. They set a “buy” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Berry Petroleum currently has a consensus rating of “Buy” and an average price target of $20.00.
Shares of NASDAQ:BRY opened at $9.51 on Tuesday. Berry Petroleum Company LLC has a one year low of $8.00 and a one year high of $18.55. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44.
Berry Petroleum (NASDAQ:BRY) last issued its earnings results on Wednesday, November 7th. The energy company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.07). The firm had revenue of $142.95 million for the quarter, compared to analyst estimates of $154.10 million. As a group, sell-side analysts forecast that Berry Petroleum Company LLC will post 1.4 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 14th. This is a positive change from Berry Petroleum’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.05%.
In other Berry Petroleum news, CEO Arthur T. Smith acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The shares were bought at an average cost of $10.22 per share, with a total value of $51,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gary A. Grove acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The shares were acquired at an average cost of $10.33 per share, for a total transaction of $206,600.00. The disclosure for this purchase can be found here. Company insiders own 2.22% of the company’s stock.
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Berry Petroleum 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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