Berry (NASDAQ:BRY) Announces Earnings, Beats Estimates of $0.10 per EPS


Berry (NASDAQ:BRY – Get Rating) announced its quarterly earnings data on Wednesday. The energy company reported earnings per share of $0.51 for the quarter, beating consensus analyst estimates of $0.41 by $0.10, MarketWatch Earnings reports. Berry had a negative net margin of 9.37% and a positive return on equity of 8.51%. In the same quarter last year, the company posted earnings per share of $0.07.

BRY stock traded at $0.32 during Friday’s trading, hitting $10.99. The company had a trading volume of 374,856 shares, compared to an average volume of 410,136. The company has a 50-day simple moving average of $10.90 and a 200-day simple moving average of $9.67. The company has a market capitalization of $887.55 million, a price-earnings ratio of -17.17 and a beta of 2.34. The company has a debt ratio of 0.57, a quick ratio of 0.79 and a current ratio of 0.79. Berry has a 12-month low of $4.72 and a 12-month high of $12.85.

The company also recently announced a dividend, which will be paid on Wednesday, June 15. Investors of record on Monday, May 16 will receive a dividend of $0.13. The ex-dividend date is Friday, May 13. Berry’s dividend payout ratio (DPR) is currently -37.50%.

Hedge funds and other institutional investors have recently changed their positions in the company. Goldman Sachs Group Inc. increased its stake in Berry by 12.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 83,539 shares of the energy company valued at $704,000 after acquiring an additional 9,090 shares during the period. Barclays PLC increased its stake in Berry shares by 165.1% in Q4. Barclays PLC now owns 81,860 shares of the energy company valued at $690,000 after buying an additional 50,986 shares during the period. Credit Suisse AG acquired a new position in shares of Berry in Q4 worth $664,000. Sei Investments Co. increased its stake in Berry shares by 31.3% in Q4. Sei Investments Co. now owns 58,300 shares of the energy company valued at $491,000 after purchasing an additional 13,900 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Berry stock in Q4 worth $420,000. Institutional investors and hedge funds hold 92.68% of the company’s shares.

BRY has been the subject of a number of research analyst reports. Wells Fargo & Company raised its price target on Berry shares from $10.00 to $12.00 and gave the company an “underweight” rating in a Monday, March 14 report. Zacks Investment Research upgraded Berry’s shares from a “strong sell” rating to a “hold” rating in a Monday, April 11 research report. KeyCorp raised its price target on Berry shares from $12.00 to $13.00 and gave the stock an “overweight” rating in a Thursday, April 14 research report. Finally, Piper Sandler upgraded Berry shares from a “neutral” rating to an “overweight” rating and raised her price target for the stock from $11.00 to $14.00 in a research report Thursday, April 7. One financial analyst has assigned the stock a sell rating, two have issued a hold rating and three have assigned the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.13.

About Berry (Get a 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 petroleum 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.

Further reading

Earnings History for Berry (NASDAQ:BRY)



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