Berry Co. Expected to Earn Q1 2022 Earnings of $0.46 Per Share (NASDAQ:BRY)

Berry Co. (NASDAQ:BRY – Get Rating) – Capital One Financial boosted their Q1 2022 earnings per share estimates for Berry in a research note issued on Wednesday, April 13th. Capital One Financial analyst B. Velie now expects that the energy company will earn $0.46 per share for the quarter, up from their previous estimate of $0.44. Capital One Financial also issued estimates for Berry’s FY2022 earnings at $1.95 EPS.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Berry from a “strong sell” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company upped their target price on shares of Berry from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Monday, March 14th. KeyCorp increased their price objective on shares of Berry from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Piper Sandler raised shares of Berry from a “neutral” rating to an “overweight” rating and raised their target price for the company from $11.00 to $14.00 in a research report on Thursday, April 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Berry currently has an average rating of “Hold” and a consensus target price of $12.13.

NASDAQ:BRY opened at $12.09 on Friday. The firm has a market cap of $976.39 million, a PE ratio of -60.45 and a beta of 2.58. Berry has a 12 month low of $4.72 and a 12 month high of $12.55. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $10.14 and its two-hundred day moving average price is $9.27.

Berry (NASDAQ:BRY – Get Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The energy company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The company had revenue of $208.09 million for the quarter, compared to the consensus estimate of $158.87 million. Berry had a positive return on equity of 3.07% and a negative net margin of 2.85%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Berry in the 4th quarter worth $20,564,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Berry by 46.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 205,505 shares of the energy company’s stock valued at $1,482,000 after purchasing an additional 65,183 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Berry by 74.3% during the third quarter. Metropolitan Life Insurance Co NY now owns 17,386 shares of the energy company’s stock valued at $125,000 after purchasing an additional 7,412 shares during the last quarter. Heartland Advisors Inc. lifted its holdings in shares of Berry by 2.5% in the third quarter. Heartland Advisors Inc. now owns 2,064,875 shares of the energy company’s stock worth $14,888,000 after buying an additional 51,200 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Berry by 66.1% in the third quarter. Citigroup Inc. now owns 7,557 shares of the energy company’s stock worth $54,000 after buying an additional 3,008 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 15th. Stockholders of record on Tuesday, March 15th will be given a $0.04 dividend. The ex-dividend date is Monday, March 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.32%. Berry’s dividend payout ratio (DPR) is currently -119.99%.

About Berry (Get Rating)

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.

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