Berry Co. (NASDAQ:BRY) Holdings Raised by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its stake in shares of Berry Co. (NASDAQ:BRY) by 34.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 357,725 shares of the energy company’s stock after buying an additional 91,642 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.46% of Berry worth $1,839,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Federated Hermes Inc. bought a new position in Berry during the second quarter valued at about $25,000. Gladius Capital Management LP bought a new position in shares of Berry during the 2nd quarter valued at about $27,000. CWM LLC grew its stake 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 last quarter. 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 in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Berry during the second quarter valued at approximately $50,000. 94.88% of the stock is currently owned by institutional investors.

Berry Trading Up 0.3 %

Shares of NASDAQ BRY opened at $3.93 on Thursday. The business has a fifty day simple moving average of $4.96 and a 200-day simple moving average of $5.89. The company has a market cap of $302.37 million, a price-to-earnings ratio of 3.64 and a beta of 1.72. Berry Co. has a 12 month low of $3.88 and a 12 month high of $8.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54.

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

Berry Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were issued a $0.03 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.05%. Berry’s payout ratio is currently 11.11%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their price target on shares of Berry from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th.

About Berry

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.