Berry (NASDAQ:BRY) Shares Gap Down to $8.83

Berry Co. (NASDAQ:BRYGet Rating)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $8.83, but opened at $8.42. Berry shares last traded at $8.46, with a volume of 771 shares.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price objective 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.

Berry Stock Up 0.1 %

The business’s 50 day simple moving average is $8.53 and its 200-day simple moving average is $9.77. The company has a market cap of $701.00 million, a price-to-earnings ratio of 217.05 and a beta of 2.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.78 and a current ratio of 0.78.

Berry (NASDAQ:BRYGet Rating) last issued its earnings results on Wednesday, August 3rd. The energy company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.16). Berry had a net margin of 0.74% and a return on equity of 17.78%. During the same quarter last year, the business posted ($0.08) EPS. Sell-side analysts expect that Berry Co. will post 2.62 earnings per share for the current year.

Berry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Monday, August 15th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, August 12th. Berry’s payout ratio is presently 600.15%.

Institutional Investors Weigh In On Berry

Several institutional investors and hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can lifted its stake in shares of Berry by 41.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,554 shares of the energy company’s stock valued at $49,000 after purchasing an additional 1,338 shares during the last quarter. Rhumbline Advisers raised its holdings in Berry by 1.5% in the 4th quarter. Rhumbline Advisers now owns 94,937 shares of the energy company’s stock worth $799,000 after acquiring an additional 1,436 shares during the period. Strs Ohio raised its holdings in Berry by 5.9% in the 2nd quarter. Strs Ohio now owns 28,900 shares of the energy company’s stock worth $220,000 after acquiring an additional 1,600 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Berry by 13.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,649 shares of the energy company’s stock worth $104,000 after acquiring an additional 1,655 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Berry by 78.2% in the 1st quarter. Captrust Financial Advisors now owns 4,857 shares of the energy company’s stock worth $50,000 after acquiring an additional 2,131 shares during the period. Institutional investors and hedge funds own 90.79% 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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