Great Lakes Advisors LLC Has $567,000 Stake in Berry Co. (NASDAQ:BRY)

Posted by Defense World Staff on Aug 22nd, 2023

Great Lakes Advisors LLC decreased its stake in Berry Co. (NASDAQ:BRY – Free Report) by 10.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,292 shares of the energy company’s stock after selling 8,684 shares during the quarter. Great Lakes Advisors LLC owned 0.09% of Berry worth $567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BRY. Tower Research Capital LLC TRC raised its position in shares of Berry by 525.6% during the first quarter. Tower Research Capital LLC TRC now owns 3,147 shares of the energy company’s stock worth $25,000 after purchasing an additional 2,644 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Berry during the first quarter worth about $31,000. Metropolitan Life Insurance Co NY raised its position in shares of Berry by 35.0% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,844 shares of the energy company’s stock worth $39,000 after purchasing an additional 1,257 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Berry during the fourth quarter worth about $46,000. Finally, Great West Life Assurance Co. Can raised its position in Berry by 41.6% in 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 buying an additional 1,338 shares during the last quarter. Institutional investors and hedge funds own 89.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BRY. Piper Sandler lowered Berry from an “overweight” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research report on Monday, August 14th. Jefferies Financial Group lowered Berry from a “buy” rating to a “hold” rating and dropped their target price for the company from $9.00 to $8.00 in a research report on Friday, July 14th. Finally, TheStreet raised Berry from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd.

Get Our Latest Stock Analysis on Berry

Berry Stock Up 1.6 %

BRY stock opened at $8.46 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $7.46 and a two-hundred day moving average price of $7.76. The company has a market cap of $640.09 million, a price-to-earnings ratio of 2.42 and a beta of 2.18. Berry Co. has a twelve month low of $6.23 and a twelve month high of $10.74.

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

Berry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.14 per share. This is an increase from Berry’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 6.62%. The ex-dividend date of this dividend is Monday, August 14th. Berry’s payout ratio is currently 13.75%.

Insider Transactions at Berry

In other news, Chairman Arthur T. Smith sold 50,000 shares of Berry stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $7.15, for a total transaction of $357,500.00. Following the completion of the transaction, the chairman now directly owns 614,180 shares in the company, valued at approximately $4,391,387. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Arthur T. Smith sold 50,000 shares of Berry stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $7.15, for a total transaction of $357,500.00. Following the completion of the transaction, the chairman now directly owns 614,180 shares in the company, valued at approximately $4,391,387. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Danielle E. Hunter sold 14,800 shares of Berry stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $8.50, for a total value of $125,800.00. Following the transaction, the president now owns 173,757 shares of the company’s stock, valued at $1,476,934.50. The disclosure for this sale can be found here. In the last three months, insiders sold 83,635 shares of company stock worth $642,838. 1.00% of the stock is owned by company insiders.

Berry Company Profile

(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.