Allspring Global Investments Holdings LLC Lowers Holdings in Berry Co. (NASDAQ:BRY)

Allspring Global Investments Holdings LLC cut its stake in Berry Co. (NASDAQ:BRY) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,657,075 shares of the energy company’s stock after selling 5,241 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Berry were worth $18,679,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. increased its position in shares of Berry by 302.2% in the third quarter. Alliancebernstein L.P. now owns 8,847,928 shares of the energy company’s stock worth $66,360,000 after acquiring an additional 6,648,164 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Berry by 2,942.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,039,356 shares of the energy company’s stock valued at $7,307,000 after purchasing an additional 1,005,195 shares in the last quarter. South Dakota Investment Council lifted its stake in shares of Berry by 251.0% during 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Berry by 18.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,449,782 shares of the energy company’s stock worth $27,080,000 after buying an additional 538,093 shares during the period. Finally, State Street Corp grew its stake in shares of Berry by 21.2% in the third 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 in the last quarter. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Berry Stock Down 2.5 %

Shares of NASDAQ BRY opened at $8.44 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.63 and a current ratio of 0.63. Berry Co. has a 1 year low of $6.22 and a 1 year high of $8.94. The stock’s 50-day simple moving average is $7.43 and its 200-day simple moving average is $7.35. The firm has a market cap of $644.25 million, a price-to-earnings ratio of 18.35 and a beta of 1.80.

Berry (NASDAQ:BRY) last released its 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 business had revenue of $216.40 million for the quarter, compared to analysts’ expectations of $190.28 million. Berry had a net margin of 4.14% and a return on equity of 5.27%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 earnings per share. As a group, equities analysts anticipate that Berry Co. will post 0.81 earnings per share for the current fiscal year.

Berry Increases Dividend

The business also recently announced a None dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 15th were paid a $0.26 dividend. 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 dividend payout ratio is 104.35%.

About Berry

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.