SG Americas Securities LLC Sells 49,369 Shares of Berry Co. (NASDAQ:BRY)

SG Americas Securities LLC reduced its position in shares of Berry Co. (NASDAQ:BRY) by 64.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,896 shares of the energy company’s stock after selling 49,369 shares during the period. SG Americas Securities LLC’s holdings in Berry were worth $138,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. bought a new position in Berry during the 2nd quarter worth $25,000. Gladius Capital Management LP bought a new position in shares of Berry during the second quarter worth about $27,000. CWM LLC lifted its stake in shares of Berry by 287.4% in the second quarter. CWM LLC now owns 4,560 shares of the energy company’s stock worth $29,000 after acquiring an additional 3,383 shares during the period. Meeder Asset Management Inc. boosted its holdings in Berry by 43.5% in the second quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock valued at $47,000 after acquiring an additional 2,186 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Berry during the second quarter worth $50,000. Institutional investors and hedge funds own 94.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price target on Berry from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th.

Insiders Place Their Bets

In related news, CEO Fernando Araujo sold 33,950 shares of the firm’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 of the company’s stock, valued at approximately $1,573,939.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Berry Price Performance

Shares of NASDAQ BRY opened at $5.17 on Friday. 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 firm’s 50-day moving average price is $5.53 and its 200-day moving average price is $6.50. The firm has a market capitalization of $397.77 million, a P/E ratio of 517.00 and a beta of 1.72. Berry Co. has a 1-year low of $4.82 and a 1-year high of $8.88.

Berry (NASDAQ:BRY) last announced its quarterly earnings results on Friday, August 9th. The energy company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $197.80 million during the quarter, compared to the consensus estimate of $187.38 million. During the same quarter in the previous year, the company posted $0.15 EPS. The firm’s revenue was down 13.8% on a year-over-year basis. Equities research analysts anticipate that Berry Co. will post 0.63 earnings per share for the current fiscal year.

Berry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 9.28%. Berry’s dividend payout ratio (DPR) is presently 4,800.00%.

Berry Company 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.