Berry Co. (NASDAQ:BRY – Get Rating) major shareholder Benefit Street Partners Llc sold 2,000,000 shares of Berry stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $11.38, for a total transaction of $22,760,000.00. Following the sale, the insider now owns 10,703,275 shares of the company’s stock, valued at $121,803,269.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of BRY traded down $1.06 during trading hours on Monday, hitting $9.93. The stock had a trading volume of 424,047 shares, compared to its average volume of 431,784. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.79 and a current ratio of 0.68. The firm has a 50-day moving average price of $10.90 and a 200 day moving average price of $9.67. Berry Co. has a fifty-two week low of $4.72 and a fifty-two week high of $12.85. The firm has a market capitalization of $801.95 million, a price-to-earnings ratio of -15.52 and a beta of 2.34.
Berry (NASDAQ:BRY – Get Rating) last posted its earnings results on Wednesday, May 4th. The energy company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.10. Berry had a negative net margin of 9.37% and a positive return on equity of 8.68%. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, analysts predict that Berry Co. will post 2.33 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the business. Dorsey Wright & Associates acquired a new position in Berry during the fourth quarter worth $52,000. Citigroup Inc. grew its holdings in shares of Berry by 66.1% during 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. Marshall Wace North America L.P. purchased a new stake in shares of Berry during the first quarter worth $63,000. Royal Bank of Canada grew its holdings in shares of Berry by 43.5% during the third quarter. Royal Bank of Canada now owns 8,669 shares of the energy company’s stock worth $63,000 after buying an additional 2,626 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Berry during the third quarter worth $79,000. Institutional investors own 92.68% of the company’s stock.
Several analysts have commented on the stock. Piper Sandler upgraded shares of Berry from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $11.00 to $14.00 in a research note on Thursday, April 7th. KeyCorp lifted their price objective on shares of Berry from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, April 14th. Zacks Investment Research upgraded shares of Berry from a “strong sell” rating to a “hold” rating in a research note on Monday, April 11th. Finally, Wells Fargo & Company lifted their price objective 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.13.
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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