Massachusetts Financial Services Co. MA Makes New Investment in Berry Co. (NASDAQ:BRY)

Massachusetts Financial Services Co. MA acquired a new stake in shares of Berry Co. (NASDAQ:BRY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 266,083 shares of the energy company’s stock, valued at approximately $1,719,000.

A number of other hedge funds also recently made changes to their positions in BRY. Charles Schwab Investment Management Inc. lifted its stake in Berry by 11.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,207,323 shares of the energy company’s stock worth $8,487,000 after purchasing an additional 121,769 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Berry by 26.0% in the 4th quarter. BNP Paribas Financial Markets now owns 83,569 shares of the energy company’s stock worth $587,000 after buying an additional 17,231 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Berry by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,537,851 shares of the energy company’s stock worth $31,902,000 after buying an additional 284,757 shares in the last quarter. Principal Financial Group Inc. grew its position in Berry by 1,407.0% during the fourth quarter. Principal Financial Group Inc. now owns 380,967 shares of the energy company’s stock valued at $2,678,000 after acquiring an additional 355,688 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Berry by 211.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,905 shares of the energy company’s stock worth $27,000 after acquiring an additional 2,653 shares in the last quarter. 94.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler cut their price objective on shares of Berry from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Insider Buying and Selling at Berry

In other Berry news, CEO Fernando Araujo sold 33,950 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $6.22, for a total value of $211,169.00. Following the transaction, the chief executive officer now owns 253,045 shares in the company, valued at $1,573,939.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Berry Stock Down 2.0 %

BRY opened at $5.41 on Monday. Berry Co. has a 12 month low of $5.09 and a 12 month high of $8.91. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $6.15 and its 200-day moving average price is $6.93. The company has a market cap of $416.24 million, a P/E ratio of 541.00 and a beta of 1.73.

Berry (NASDAQ:BRY) last announced its quarterly earnings results on Friday, August 9th. The energy company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Berry had a positive return on equity of 6.69% and a negative net margin of 4.19%. The company had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $187.38 million. During the same period last year, the firm earned $0.15 earnings per share. Berry’s revenue for the quarter was down 13.8% on a year-over-year basis. On average, equities analysts expect that Berry Co. will post 0.61 EPS for the current year.

Berry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were issued a dividend of $0.12 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 8.87%. Berry’s dividend payout ratio is currently 4,800.00%.

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.