Berry Co. (NASDAQ:BRY – Get Rating) – Investment analysts at KeyCorp dropped their Q2 2022 EPS estimates for Berry in a research note issued to investors on Wednesday, May 4th. KeyCorp analyst L. Mariani now expects that the energy company will post earnings per share of $0.47 for the quarter, down from their previous estimate of $0.53. KeyCorp currently has a “Overweight” rating and a $13.00 target price on the stock. KeyCorp also issued estimates for Berry’s Q3 2022 earnings at $0.48 EPS, Q4 2022 earnings at $0.43 EPS, Q1 2023 earnings at $0.47 EPS, Q2 2023 earnings at $0.47 EPS, Q3 2023 earnings at $0.51 EPS, Q4 2023 earnings at $0.54 EPS and FY2023 earnings at $1.99 EPS.
A number of other analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Berry from a “strong sell” rating to a “hold” rating in a research note on Monday, April 11th. Wells Fargo & Company lifted 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. Finally, Piper Sandler upgraded shares of Berry from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $11.00 to $14.00 in a research note on Thursday, April 7th. One equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.13.
Berry (NASDAQ:BRY – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The energy company reported $0.51 EPS for the quarter, topping 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 quarter in the previous year, the company earned $0.07 earnings per share.
The company also recently disclosed a dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Monday, May 16th will be paid a $0.13 dividend. The ex-dividend date is Friday, May 13th. Berry’s payout ratio is -37.50%.
Several institutional investors have recently modified their holdings of BRY. State Board of Administration of Florida Retirement System bought a new position in Berry during the first quarter worth $341,000. New York State Common Retirement Fund increased its position in Berry by 120.6% during the first quarter. New York State Common Retirement Fund now owns 117,727 shares of the energy company’s stock worth $1,215,000 after acquiring an additional 64,366 shares during the period. Victory Capital Management Inc. increased its position in Berry by 14.8% during the first quarter. Victory Capital Management Inc. now owns 167,119 shares of the energy company’s stock worth $1,758,000 after acquiring an additional 21,506 shares during the period. Nisa Investment Advisors LLC increased its position in Berry by 16.7% during the first quarter. Nisa Investment Advisors LLC now owns 24,730 shares of the energy company’s stock worth $255,000 after acquiring an additional 3,530 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Berry by 24.8% during the first quarter. Assenagon Asset Management S.A. now owns 71,518 shares of the energy company’s stock worth $738,000 after acquiring an additional 14,189 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.
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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