Danielle E. Hunter Sells 14,800 Shares of Berry Co. (NASDAQ:BRY) Stock

Posted by Defense World Staff on Aug 20th, 2023

Berry Co. (NASDAQ:BRY – Get Free Report) President Danielle E. Hunter sold 14,800 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $8.50, for a total value of $125,800.00. Following the sale, the president now directly owns 173,757 shares of the company’s stock, valued at $1,476,934.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Berry Stock Performance

Shares of BRY stock opened at $8.33 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.91 and a quick ratio of 0.91. Berry Co. has a fifty-two week low of $6.23 and a fifty-two week high of $10.74. The stock’s 50-day moving average is $7.46 and its two-hundred day moving average is $7.77. The firm has a market cap of $630.25 million, a P/E ratio of 2.39 and a beta of 2.18.

Berry (NASDAQ:BRY – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The energy company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.14. Berry had a return on equity of 18.02% and a net margin of 26.86%. The company had revenue of $229.40 million for the quarter, compared to analyst estimates of $178.39 million. During the same period in the prior year, the firm posted $0.64 EPS. The business’s revenue was down 9.4% compared to the same quarter last year. Analysts predict that Berry Co. will post 0.23 earnings per share for the current fiscal year.

Berry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Tuesday, August 15th will be given a $0.14 dividend. This is a positive change from Berry’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Monday, August 14th. Berry’s dividend payout ratio is presently 13.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. TheStreet raised Berry from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Piper Sandler downgraded Berry from an “overweight” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research note on Monday, August 14th. Finally, Jefferies Financial Group downgraded Berry from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $9.00 to $8.00 in a research note on Friday, July 14th.

Get Our Latest Stock Analysis on Berry

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in shares of Berry during the 1st quarter valued at about $31,000. Tower Research Capital LLC TRC increased its holdings in shares of Berry by 525.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,147 shares of the energy company’s stock valued at $25,000 after acquiring an additional 2,644 shares during the last quarter. Quarry LP increased its holdings in shares of Berry by 1,169.4% during the 2nd quarter. Quarry LP now owns 4,151 shares of the energy company’s stock valued at $29,000 after acquiring an additional 3,824 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Berry by 41.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,554 shares of the energy company’s stock valued at $49,000 after acquiring an additional 1,338 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY increased its holdings in shares of Berry by 35.0% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,844 shares of the energy company’s stock valued at $39,000 after acquiring an additional 1,257 shares during the last quarter. Institutional investors and hedge funds own 89.88% of the company’s stock.

About Berry

(Get Free Report)

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.