Q1 2023 EPS Estimates for Berry Co. (NASDAQ:BRY) Lowered by Seaport Res Ptn

Berry Co. (NASDAQ:BRYGet Rating) – Analysts at Seaport Res Ptn lowered their Q1 2023 earnings per share estimates for Berry in a note issued to investors on Monday, January 23rd. Seaport Res Ptn analyst N. Pope now forecasts that the energy company will post earnings per share of $0.19 for the quarter, down from their previous forecast of $0.24. The consensus estimate for Berry’s current full-year earnings is $2.08 per share. Seaport Res Ptn also issued estimates for Berry’s Q2 2023 earnings at $0.23 EPS, Q3 2023 earnings at $0.26 EPS, Q4 2023 earnings at $0.23 EPS, Q1 2024 earnings at $0.18 EPS, Q3 2024 earnings at $0.23 EPS and Q4 2024 earnings at $0.20 EPS.

A number of other equities research analysts also recently commented on the company. Piper Sandler reduced their target price on Berry from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Tuesday, October 18th. TheStreet raised Berry from a “c” rating to a “b-” rating in a 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 analyst has rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Berry Price Performance

Berry stock opened at $9.16 on Tuesday. Berry has a one year low of $6.78 and a one year high of $12.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The business has a fifty day moving average of $8.29 and a two-hundred day moving average of $8.54. The company has a market cap of $703.19 million, a P/E ratio of 4.05 and a beta of 2.23.

Berry (NASDAQ:BRYGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.09. Berry had a return on equity of 22.21% and a net margin of 20.07%. The firm had revenue of $376.45 million during the quarter, compared to the consensus estimate of $207.10 million.

Berry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 28th. Stockholders of record on Tuesday, November 15th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, November 14th. Berry’s dividend payout ratio (DPR) is presently 10.62%.

Insider Transactions at Berry

In other news, Director Rajath Shourie purchased 10,000 shares of the business’s stock in a transaction dated Thursday, December 15th. The stock was acquired at an average price of $7.71 per share, with a total value of $77,100.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $77,100. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Rajath Shourie acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The stock was purchased at an average price of $7.71 per share, for a total transaction of $77,100.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $77,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Oaktree Capital Management Lp sold 1,000,000 shares of Berry stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $9.60, for a total value of $9,600,000.00. Following the sale, the insider now owns 6,797,000 shares of the company’s stock, valued at approximately $65,251,200. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Berry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its position in Berry by 302.2% during the 3rd quarter. Alliancebernstein L.P. now owns 8,847,928 shares of the energy company’s stock worth $66,360,000 after purchasing an additional 6,648,164 shares in the last quarter. FMR LLC grew its holdings in Berry by 14.3% in the 2nd quarter. FMR LLC now owns 4,718,548 shares of the energy company’s stock valued at $35,955,000 after buying an additional 589,594 shares during the period. Vanguard Group Inc. grew its holdings in Berry by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,786,472 shares of the energy company’s stock valued at $39,076,000 after buying an additional 13,481 shares during the period. State Street Corp grew its holdings in 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, Dimensional Fund Advisors LP grew its holdings in Berry by 22.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,676,137 shares of the energy company’s stock valued at $20,072,000 after buying an additional 483,221 shares during the period. Hedge funds and other institutional investors own 97.69% 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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Earnings History and Estimates for Berry (NASDAQ:BRY)

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