Berry Co. (NASDAQ:BRY) Stock Holdings Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Berry Co. (NASDAQ:BRY) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 968,687 shares of the energy company’s stock after acquiring an additional 47,137 shares during the period. Bank of New York Mellon Corp owned approximately 1.26% of Berry worth $6,665,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in Berry by 7.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,586 shares of the energy company’s stock valued at $141,000 after acquiring an additional 1,177 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in shares of Berry by 35.0% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,844 shares of the energy company’s stock worth $39,000 after buying an additional 1,257 shares in the last quarter. Great West Life Assurance Co. Can raised 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 worth $49,000 after buying an additional 1,338 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Berry by 1.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 86,594 shares of the energy company’s stock worth $596,000 after buying an additional 1,417 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Berry by 1.4% in the 1st quarter. Rhumbline Advisers now owns 130,780 shares of the energy company’s stock worth $1,027,000 after buying an additional 1,795 shares in the last quarter. Institutional investors own 88.74% of the company’s stock.

Insider Buying and Selling

In other news, President Danielle E. Hunter sold 15,000 shares of Berry stock in a transaction on Friday, September 1st. The stock was sold at an average price of $8.77, for a total transaction of $131,550.00. Following the transaction, the president now owns 148,757 shares in the company, valued at $1,304,598.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Berry Stock Performance

Shares of NASDAQ BRY opened at $7.09 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $536.50 million, a price-to-earnings ratio of 12.89 and a beta of 2.09. The stock’s fifty day simple moving average is $7.96 and its 200 day simple moving average is $7.63. Berry Co. has a 52-week low of $6.23 and a 52-week high of $10.74.

Berry (NASDAQ:BRY) last issued its earnings results on Wednesday, November 1st. The energy company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.18). The company had revenue of $222.08 million during the quarter, compared to analyst estimates of $194.82 million. Berry had a return on equity of 13.93% and a net margin of 5.87%. The business’s revenue was down 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, sell-side analysts forecast that Berry Co. will post 0.76 earnings per share for the current fiscal year.

Berry Dividend Announcement

The business also recently announced a None dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be issued a $0.21 dividend. This represents a dividend yield of 6.2%. The ex-dividend date is Tuesday, November 14th. Berry’s payout ratio is 87.27%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler dropped their price objective on Berry from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, November 16th. TheStreet downgraded Berry from a “b” rating to a “c” rating in a research note on Wednesday, November 1st.

Berry Company Profile

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.