Berry (NASDAQ:BRY) Reaches New 1-Year Low at $6.43

Posted by Donald Scott on May 26th, 2023

Berry Co. (NASDAQ:BRY – Get Rating) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $6.43 and last traded at $6.50, with a volume of 542708 shares. The stock had previously closed at $6.57.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BRY shares. Jefferies Financial Group cut their price objective on shares of Berry from $11.00 to $9.00 in a research note on Monday, May 15th. TheStreet lowered shares of Berry from a “b-” rating to a “c+” rating in a research report on Thursday, March 9th. Finally, Piper Sandler dropped their price target on shares of Berry from $12.00 to $10.00 in a research report on Thursday, May 18th.

Berry Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.58, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50 day simple moving average is $7.49 and its 200 day simple moving average is $8.27. The company has a market capitalization of $501.02 million, a PE ratio of 1.76 and a beta of 2.18.

Berry (NASDAQ:BRY – Get Rating) last issued its earnings results on Wednesday, May 3rd. The energy company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). Berry had a return on equity of 24.35% and a net margin of 27.90%. The firm had revenue of $254.90 million for the quarter, compared to analysts’ expectations of $174.40 million. During the same period last year, the firm earned $0.51 earnings per share. Berry’s revenue for the quarter was up 30.9% on a year-over-year basis. As a group, analysts anticipate that Berry Co. will post 0.33 earnings per share for the current fiscal year.

Berry Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Investors of record on Monday, May 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date of this dividend was Friday, May 12th. Berry’s dividend payout ratio (DPR) is currently 13.04%.

Insiders Place Their Bets

In other Berry news, Chairman Arthur T. Smith sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $8.21, for a total transaction of $821,000.00. Following the completion of the transaction, the chairman now owns 664,180 shares in the company, valued at approximately $5,452,917.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Danielle E. Hunter sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $8.26, for a total transaction of $247,800.00. Following the completion of the sale, the president now owns 188,757 shares in the company, valued at approximately $1,559,132.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Arthur T. Smith sold 100,000 shares of the company’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $8.21, for a total transaction of $821,000.00. Following the completion of the sale, the chairman now owns 664,180 shares of the company’s stock, valued at approximately $5,452,917.80. The disclosure for this sale can be found here. Insiders sold 230,000 shares of company stock worth $1,794,800 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Berry

Large investors have recently bought and sold shares of the company. Lido Advisors LLC purchased a new position in Berry during the 3rd quarter worth $75,000. LSV Asset Management grew its stake in shares of Berry by 9.6% during the 4th quarter. LSV Asset Management now owns 86,400 shares of the energy company’s stock worth $691,000 after purchasing an additional 7,533 shares during the period. Diversified Trust Co acquired a new position in shares of Berry during the 4th quarter worth $118,000. Nisa Investment Advisors LLC grew its stake in shares of Berry by 35.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 30,982 shares of the energy company’s stock worth $254,000 after purchasing an additional 8,082 shares during the period. Finally, Financial Advisory Group acquired a new position in shares of Berry during the 3rd quarter worth $88,000. Hedge funds and other institutional investors own 97.69% of the company’s stock.

Berry Company Profile

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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.