Q4 EPS Estimates for Berry Lowered by Capital One Financial

Berry Co. (NASDAQ:BRY) – Equities research analysts at Capital One Financial reduced their Q4 2024 EPS estimates for shares of Berry in a research report issued on Monday, November 18th. Capital One Financial analyst B. Velie now anticipates that the energy company will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.22. The consensus estimate for Berry’s current full-year earnings is $0.60 per share. Capital One Financial also issued estimates for Berry’s FY2025 earnings at $0.60 EPS and FY2026 earnings at $0.45 EPS.

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

Berry Stock Performance

Berry stock opened at $4.26 on Thursday. The company has a market cap of $327.76 million, a PE ratio of 3.88 and a beta of 1.72. Berry has a twelve month low of $4.10 and a twelve month high of $8.88. The company’s 50-day moving average price is $5.10 and its 200-day moving average price is $6.02. 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 posted its earnings results on Thursday, November 7th. The energy company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Berry had a return on equity of 6.50% and a net margin of 9.40%. The business had revenue of $259.80 million during the quarter, compared to the consensus estimate of $186.67 million. During the same quarter last year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was up 31.3% on a year-over-year basis.

Berry Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be given a $0.03 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.12 annualized dividend and a yield of 2.82%. Berry’s dividend payout ratio (DPR) is 11.11%.

Institutional Investors Weigh In On Berry

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Berry by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,527,531 shares of the energy company’s stock worth $29,248,000 after acquiring an additional 219,468 shares in the last quarter. Vanguard Group Inc. increased its stake in Berry by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 4,359,786 shares of the energy company’s stock valued at $35,096,000 after purchasing an additional 77,487 shares in the last quarter. State Street Corp increased its stake in Berry by 0.8% during the 3rd quarter. State Street Corp now owns 3,001,229 shares of the energy company’s stock valued at $15,426,000 after purchasing an additional 25,108 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Berry by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,693,611 shares of the energy company’s stock valued at $13,845,000 after purchasing an additional 37,904 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Berry by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,903,951 shares of the energy company’s stock valued at $9,788,000 after purchasing an additional 176,280 shares in the last quarter. Hedge funds and other institutional investors own 94.88% of the company’s stock.

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.