Barclays PLC Boosts Stake in Berry Co. (NASDAQ:BRY)

Barclays PLC boosted its stake in shares of Berry Co. (NASDAQ:BRY) by 155.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,120 shares of the energy company’s stock after purchasing an additional 121,693 shares during the period. Barclays PLC’s holdings in Berry were worth $1,029,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BRY. Victory Capital Management Inc. lifted its stake in shares of Berry by 48.5% during the 3rd quarter. Victory Capital Management Inc. now owns 386,286 shares of the energy company’s stock valued at $1,986,000 after buying an additional 126,175 shares in the last quarter. Geode Capital Management LLC raised its holdings in Berry by 10.2% during the third quarter. Geode Capital Management LLC now owns 1,903,951 shares of the energy company’s stock valued at $9,788,000 after acquiring an additional 176,280 shares during the period. HITE Hedge Asset Management LLC purchased a new position in shares of Berry in the second quarter valued at about $5,636,000. Meros Investment Management LP boosted its stake in shares of Berry by 14.5% in the second quarter. Meros Investment Management LP now owns 1,326,707 shares of the energy company’s stock worth $8,571,000 after acquiring an additional 167,718 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Berry by 8.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 306,951 shares of the energy company’s stock worth $1,578,000 after purchasing an additional 22,709 shares in the last quarter. Institutional investors own 94.88% of the company’s stock.

Berry Stock Performance

Shares of NASDAQ BRY opened at $4.88 on Wednesday. The company has a market cap of $375.46 million, a P/E ratio of 4.52 and a beta of 1.64. Berry Co. has a 52-week low of $3.72 and a 52-week high of $8.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s fifty day moving average is $4.24 and its two-hundred day moving average is $5.30.

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

Berry Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, November 15th. Berry’s dividend payout ratio (DPR) is presently 11.11%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price target on Berry from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Monday, November 18th.

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.