10,000 Shares in Berry Co. (NASDAQ:BRY) Purchased by Lido Advisors LLC

Lido Advisors LLC bought a new position in shares of Berry Co. (NASDAQ:BRY – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the energy company’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC grew its position in Berry by 14.3% during the second quarter. FMR LLC now owns 4,718,548 shares of the energy company’s stock worth $35,955,000 after buying an additional 589,594 shares in the last quarter. Vanguard Group Inc. grew its position in Berry by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,786,472 shares of the energy company’s stock worth $39,076,000 after buying an additional 13,481 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Berry by 22.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,676,137 shares of the energy company’s stock worth $20,072,000 after buying an additional 483,221 shares in the last quarter. State Street Corp boosted its holdings in shares of Berry by 25.1% in the 2nd quarter. State Street Corp now owns 2,533,491 shares of the energy company’s stock worth $19,417,000 after purchasing an additional 509,116 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Berry by 54.7% in the 3rd quarter. Nuveen Asset Management LLC now owns 1,204,407 shares of the energy company’s stock worth $9,033,000 after purchasing an additional 426,049 shares in the last quarter. 97.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upped their price objective on Berry from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, March 7th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Berry Price Performance

BRY opened at $8.91 on Friday. The stock has a 50-day moving average price of $8.97 and a 200-day moving average price of $8.72. Berry Co. has a 12-month low of $6.78 and a 12-month high of $12.85. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $684.02 million, a P/E ratio of 2.92 and a beta of 2.22.

Berry (NASDAQ:BRY – Get Rating) last issued its earnings results on Wednesday, February 22nd. The energy company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.71. The company had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $187.93 million. Berry had a return on equity of 30.69% and a net margin of 27.24%. Berry’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 EPS. Equities analysts predict that Berry Co. will post 1.15 earnings per share for the current fiscal year.

Berry Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Wednesday, March 15th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This is a boost from Berry’s previous quarterly dividend of $0.06. This represents a $2.00 annualized dividend and a yield of 22.45%. Berry’s dividend payout ratio is currently 7.87%.

Insider Activity at Berry

In related news, Director Rajath Shourie bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The stock was bought at an average cost of $7.82 per share, for a total transaction of $156,400.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $156,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Berry Company Profile

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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.