Citigroup Inc. Sells 20,630 Shares of Berry Co. (NASDAQ:BRY)

Citigroup Inc. lowered its stake in shares of Berry Co. (NASDAQ:BRYFree Report) by 28.1% during the third quarter, Holdings Channel.com reports. The firm owned 52,715 shares of the energy company’s stock after selling 20,630 shares during the quarter. Citigroup Inc.’s holdings in Berry were worth $432,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in Berry by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 599,135 shares of the energy company’s stock worth $6,183,000 after acquiring an additional 10,668 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Berry during the first quarter worth about $1,061,000. MetLife Investment Management LLC lifted its holdings in shares of Berry by 55.4% during the first quarter. MetLife Investment Management LLC now owns 36,618 shares of the energy company’s stock worth $378,000 after purchasing an additional 13,057 shares during the period. Rhumbline Advisers lifted its holdings in shares of Berry by 6.4% during the first quarter. Rhumbline Advisers now owns 101,052 shares of the energy company’s stock worth $1,043,000 after purchasing an additional 6,115 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Berry by 41.6% during the first quarter. Great West Life Assurance Co. Can now owns 4,554 shares of the energy company’s stock worth $49,000 after purchasing an additional 1,338 shares during the period. Institutional investors own 88.74% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet raised Berry from a “c” rating to a “b-” rating in a report on Friday, March 8th.

Read Our Latest Report on BRY

Berry Stock Down 1.7 %

Berry stock opened at $7.71 on Monday. The stock has a market capitalization of $588.53 million, a PE ratio of 16.76 and a beta of 1.78. Berry Co. has a 12 month low of $6.22 and a 12 month high of $8.94. The business has a 50 day simple moving average of $6.94 and a 200-day simple moving average of $7.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.63 and a quick ratio of 0.63.

Berry (NASDAQ:BRYGet Free Report) last posted its quarterly earnings data on Wednesday, March 6th. The energy company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.12). Berry had a net margin of 4.14% and a return on equity of 5.27%. The business had revenue of $216.40 million during the quarter, compared to analysts’ expectations of $190.28 million. During the same quarter last year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, analysts anticipate that Berry Co. will post 0.77 EPS for the current fiscal year.

Berry Increases Dividend

The business also recently disclosed a None dividend, which will be paid on Monday, March 25th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, March 14th. This represents a yield of 6.7%. This is a positive change from Berry’s previous None dividend of $0.21. Berry’s payout ratio is 104.35%.

Berry Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Berry (NASDAQ:BRY)

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