Mirae Asset Global Investments Co. Ltd. Acquires 1,005,195 Shares of Berry Co. (NASDAQ:BRY)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Berry Co. (NASDAQ:BRY) by 2,942.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,039,356 shares of the energy company’s stock after acquiring an additional 1,005,195 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 1.37% of Berry worth $7,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BRY. Assenagon Asset Management S.A. bought a new stake in shares of Berry in the fourth quarter worth about $884,000. South Dakota Investment Council increased its holdings in shares of Berry by 251.0% in the third quarter. South Dakota Investment Council now owns 1,382,476 shares of the energy company’s stock worth $11,336,000 after purchasing an additional 988,653 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Berry by 64.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,085,554 shares of the energy company’s stock worth $8,902,000 after purchasing an additional 425,293 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Berry in the third quarter worth about $1,366,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Berry by 604.9% in the third quarter. State Board of Administration of Florida Retirement System now owns 152,698 shares of the energy company’s stock worth $1,252,000 after purchasing an additional 131,035 shares during the last quarter. 94.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Berry Trading Down 2.5 %

BRY opened at $8.44 on Friday. The firm has a market cap of $644.23 million, a P/E ratio of 18.35 and a beta of 1.80. Berry Co. has a 12 month low of $6.22 and a 12 month high of $8.94. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $7.43 and a 200 day moving average of $7.36.

Berry (NASDAQ:BRY) last released its quarterly earnings results on Wednesday, March 6th. The energy company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.12). The company had revenue of $216.40 million during the quarter, compared to analysts’ expectations of $190.28 million. Berry had a return on equity of 5.27% and a net margin of 4.14%. The company’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. As a group, research analysts forecast that Berry Co. will post 0.81 EPS for the current year.

Berry Increases Dividend

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

Berry 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.