Berry (NASDAQ:BRY) Trading Down 6.5%

Berry Co. (NASDAQ:BRYGet Rating)’s stock price fell 6.5% during trading on Friday . The company traded as low as $8.14 and last traded at $8.14. 1,521 shares were traded during trading, a decline of 100% from the average session volume of 707,970 shares. The stock had previously closed at $8.71.

Analyst Ratings Changes

A number of brokerages have recently commented on BRY. Piper Sandler cut their price objective on Berry from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Tuesday, October 18th. TheStreet upgraded Berry from a “c” rating to a “b-” rating in a research report on Wednesday, November 2nd. Finally, Jefferies Financial Group initiated coverage on Berry in a report on Wednesday, October 19th. They issued a “buy” rating and a $10.00 target price for the company. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Berry Price Performance

The stock has a fifty day moving average price of $8.66 and a 200-day moving average price of $9.02. The company has a market cap of $667.13 million, a PE ratio of 3.85 and a beta of 2.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.

Berry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Tuesday, November 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, November 14th. This represents a $0.24 annualized dividend and a dividend yield of 2.76%. Berry’s dividend payout ratio is 10.62%.

Insider Buying and Selling

In related news, major shareholder Oaktree Capital Management Lp sold 1,000,000 shares of the stock in a transaction on Friday, October 7th. The stock was sold at an average price of $9.00, for a total transaction of $9,000,000.00. Following the completion of the sale, the insider now directly owns 10,622,000 shares in the company, valued at $95,598,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 4,825,000 shares of company stock worth $42,612,500. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Berry

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC boosted its holdings in Berry by 148.8% during the third quarter. Jane Street Group LLC now owns 57,364 shares of the energy company’s stock valued at $430,000 after purchasing an additional 34,309 shares in the last quarter. BNP Paribas Arbitrage SNC raised its position in shares of Berry by 106.0% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 53,434 shares of the energy company’s stock valued at $401,000 after acquiring an additional 27,500 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Berry by 302.2% in the 3rd quarter. Alliancebernstein L.P. now owns 8,847,928 shares of the energy company’s stock valued at $66,360,000 after buying an additional 6,648,164 shares during the period. State Street Corp grew its holdings in shares of Berry by 21.2% in the 3rd quarter. State Street Corp now owns 3,070,718 shares of the energy company’s stock valued at $23,030,000 after buying an additional 537,227 shares during the period. Finally, Two Sigma Investments LP acquired a new position in Berry in the 3rd quarter worth $779,000. 90.79% of the stock is currently owned by institutional investors.

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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