International Assets Investment Management LLC Invests $530,000 in Berry Co. (NASDAQ:BRY)

International Assets Investment Management LLC purchased a new position in Berry Co. (NASDAQ:BRY) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 10,280 shares of the energy company’s stock, valued at approximately $530,000.

A number of other large investors have also bought and sold shares of BRY. Empowered Funds LLC grew its holdings in Berry by 8.2% in the first quarter. Empowered Funds LLC now owns 341,854 shares of the energy company’s stock worth $2,752,000 after purchasing an additional 25,867 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Berry by 29.8% during the first quarter. Russell Investments Group Ltd. now owns 83,338 shares of the energy company’s stock valued at $671,000 after buying an additional 19,127 shares during the last quarter. Foundry Partners LLC grew its holdings in shares of Berry by 11.3% during the first quarter. Foundry Partners LLC now owns 791,837 shares of the energy company’s stock valued at $6,374,000 after buying an additional 80,087 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Berry by 1.8% during the first quarter. Vanguard Group Inc. now owns 4,359,786 shares of the energy company’s stock valued at $35,096,000 after buying an additional 77,487 shares during the last quarter. Finally, Huber Capital Management LLC acquired a new position in shares of Berry during the first quarter valued at about $1,749,000. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Berry Stock Up 2.1 %

Shares of NASDAQ BRY opened at $5.31 on Wednesday. The stock has a market capitalization of $408.55 million, a P/E ratio of -12.35 and a beta of 1.72. The company has a 50-day moving average price of $5.37 and a 200-day moving average price of $6.30. Berry Co. has a 1 year low of $4.82 and a 1 year high of $8.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62.

Berry (NASDAQ:BRY) last released its quarterly earnings results on Friday, August 9th. The energy company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Berry had a negative net margin of 4.19% and a positive return on equity of 6.69%. The firm had revenue of $197.80 million for the quarter, compared to the consensus estimate of $187.38 million. During the same period in the previous year, the business earned $0.15 earnings per share. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. On average, equities research analysts forecast that Berry Co. will post 0.63 EPS for the current fiscal year.

Berry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 9.04%. The ex-dividend date of this dividend was Friday, August 23rd. Berry’s payout ratio is currently -111.63%.

Insider Activity at Berry

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 transaction of $211,169.00. Following the transaction, the chief executive officer now directly owns 253,045 shares of the company’s stock, valued at $1,573,939.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

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.