Berry Co. (NASDAQ:BRY – Get Rating) declared a dividend on Thursday, May 5th, Fidelity reports. Stockholders of record on Monday, May 16th will be given a dividend of 0.13 per share by the energy company on Wednesday, June 15th. The ex-dividend date of this dividend is Friday, May 13th.
Berry has decreased its dividend payment by an average of 1.6% per year over the last three years. Berry has a payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Berry to earn $2.16 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 11.1%.
NASDAQ:BRY opened at $10.99 on Friday. Berry has a 1 year low of $4.72 and a 1 year high of $12.85. The firm has a 50 day moving average of $10.90 and a 200-day moving average of $9.67. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $887.55 million, a P/E ratio of -17.17 and a beta of 2.34.
BRY has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Berry from a “strong sell” rating to a “hold” rating in a research report on Monday, April 11th. Wells Fargo & Company boosted their price objective on shares of Berry from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Monday, March 14th. KeyCorp boosted 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, April 14th. Finally, Piper Sandler upgraded shares of Berry from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock 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 given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.13.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in shares of Berry by 43.5% in the 3rd quarter. Royal Bank of Canada now owns 8,669 shares of the energy company’s stock valued at $63,000 after buying an additional 2,626 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Berry in the 4th quarter valued at $95,000. BNP Paribas Arbitrage SA grew its holdings in shares of Berry by 105.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 17,818 shares of the energy company’s stock valued at $128,000 after buying an additional 9,133 shares during the period. Legal & General Group Plc grew its holdings in shares of Berry by 277.2% in the 4th quarter. Legal & General Group Plc now owns 20,051 shares of the energy company’s stock valued at $169,000 after buying an additional 14,735 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in shares of Berry by 97.3% in the 4th quarter. MetLife Investment Management LLC now owns 23,561 shares of the energy company’s stock valued at $198,000 after buying an additional 11,622 shares during the period. 92.68% of the stock is owned by hedge funds and other institutional investors.
Berry Company Profile (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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