Victory Capital Management Inc. Acquires 73,064 Shares of Berry Co. (NASDAQ:BRY)

Victory Capital Management Inc. boosted its holdings in shares of Berry Co. (NASDAQ:BRY) by 39.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 260,111 shares of the energy company’s stock after acquiring an additional 73,064 shares during the quarter. Victory Capital Management Inc. owned approximately 0.34% of Berry worth $1,680,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $8,487,000 after purchasing an additional 121,769 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Berry by 228.7% in the second quarter. Harbor Capital Advisors Inc. now owns 190,544 shares of the energy company’s stock worth $1,231,000 after acquiring an additional 132,568 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Berry by 36.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,323,216 shares of the energy company’s stock worth $10,652,000 after acquiring an additional 356,525 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Berry by 26.0% in the fourth quarter. BNP Paribas Financial Markets now owns 83,569 shares of the energy company’s stock worth $587,000 after acquiring an additional 17,231 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in shares of Berry by 8.3% in the second quarter. Wedge Capital Management L L P NC now owns 73,987 shares of the energy company’s stock worth $478,000 after acquiring an additional 5,645 shares during the last quarter. Institutional investors own 94.88% of the company’s stock.

Berry Stock Down 1.1 %

BRY opened at $5.49 on Thursday. Berry Co. has a fifty-two week low of $5.09 and a fifty-two week high of $8.91. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The firm’s fifty day moving average price is $6.20 and its two-hundred day moving average price is $6.95. The company has a market capitalization of $422.40 million, a P/E ratio of 549.00 and a beta of 1.73.

Berry (NASDAQ:BRY) last posted 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 positive return on equity of 6.69% and a negative net margin of 4.19%. The business had revenue of $197.80 million for the quarter, compared to analyst estimates of $187.38 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The firm’s quarterly revenue was down 13.8% on a year-over-year basis. On average, analysts anticipate that Berry Co. will post 0.61 EPS for the current year.

Berry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were issued 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 dividend yield of 8.74%. Berry’s payout ratio is presently 4,800.00%.

Insider Buying and Selling at Berry

In other Berry news, CEO Fernando Araujo sold 33,950 shares of Berry stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $6.22, for a total transaction of $211,169.00. Following the completion of the transaction, the chief executive officer now directly owns 253,045 shares of the company’s stock, valued at $1,573,939.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.