Berry Co. (NASDAQ:BRY) Sees Large Growth in Short Interest

Berry Co. (NASDAQ:BRYGet Rating) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 3,190,000 shares, an increase of 16.4% from the June 30th total of 2,740,000 shares. Approximately 4.0% of the shares of the stock are short sold. Based on an average trading volume of 924,000 shares, the short-interest ratio is presently 3.5 days.

Insider Activity at Berry

In other news, major shareholder Benefit Street Partners Llc sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $11.69, for a total value of $1,169,000.00. Following the completion of the sale, the insider now directly owns 9,862,275 shares in the company, valued at $115,289,994.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Benefit Street Partners Llc sold 100,000 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $11.69, for a total value of $1,169,000.00. Following the completion of the sale, the insider now owns 9,862,275 shares of the company’s stock, valued at $115,289,994.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Oaktree Capital Management Lp sold 254,754 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $11.32, for a total transaction of $2,883,815.28. Following the sale, the insider now owns 12,227,043 shares of the company’s stock, valued at $138,410,126.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,607,222 shares of company stock valued at $40,914,098. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BRY. Point72 Hong Kong Ltd purchased a new position in shares of Berry in the 1st quarter valued at about $31,000. Great West Life Assurance Co. Can lifted its position in shares of Berry by 41.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,554 shares of the energy company’s stock worth $49,000 after purchasing an additional 1,338 shares during the last quarter. Captrust Financial Advisors raised its stake in Berry by 78.2% in the first quarter. Captrust Financial Advisors now owns 4,857 shares of the energy company’s stock valued at $50,000 after buying an additional 2,131 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Berry during the 1st quarter worth about $55,000. Finally, Amalgamated Bank purchased a new stake in Berry during the first quarter worth approximately $84,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BRY has been the subject of a number of research analyst reports. KeyCorp increased their price target on Berry from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, April 14th. Piper Sandler lowered their target price on shares of Berry from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Berry has a consensus rating of “Hold” and a consensus target price of $12.33.

Berry Price Performance

BRY opened at $8.68 on Wednesday. The firm has a market cap of $701.00 million, a price-to-earnings ratio of -13.56 and a beta of 2.36. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average price is $8.84 and its 200 day moving average price is $9.72. Berry has a 12-month low of $4.72 and a 12-month high of $12.85.

Berry (NASDAQ:BRYGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The energy company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. Berry had a negative net margin of 9.37% and a positive return on equity of 8.68%. The business had revenue of $94.08 million during the quarter, compared to analyst estimates of $188.93 million. During the same quarter last year, the firm posted $0.07 earnings per share. As a group, sell-side analysts expect that Berry will post 3.16 earnings per share for the current year.

Berry Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, June 15th. Stockholders of record on Monday, May 16th were given a dividend of $0.13 per share. The ex-dividend date was Friday, May 13th. Berry’s dividend payout ratio is currently -37.50%.

About Berry

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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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