Capital One Financial Equities Analysts Raise Earnings Estimates for Berry Co. (NASDAQ:BRY)

Berry Co. (NASDAQ:BRY) – Equities research analysts at Capital One Financial raised their Q1 2024 earnings estimates for shares of Berry in a research report issued on Monday, April 15th. Capital One Financial analyst B. Velie now forecasts that the energy company will earn $0.29 per share for the quarter, up from their prior forecast of $0.28. The consensus estimate for Berry’s current full-year earnings is $0.81 per share. Capital One Financial also issued estimates for Berry’s FY2024 earnings at $1.19 EPS.

Berry (NASDAQ:BRY) last announced its earnings results on Wednesday, March 6th. The energy company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.12). Berry had a return on equity of 5.27% and a net margin of 4.14%. The business had revenue of $216.40 million for the quarter, compared to analyst estimates of $190.28 million. During the same quarter in the previous year, the company earned $0.95 EPS. The business’s revenue for the quarter was down 11.1% on a year-over-year basis.

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

Berry Stock Performance

Shares of NASDAQ:BRY opened at $8.33 on Tuesday. The company’s 50 day moving average price is $7.50 and its two-hundred day moving average price is $7.34. Berry has a 12-month low of $6.22 and a 12-month high of $8.94. The firm has a market cap of $640.91 million, a PE ratio of 18.11 and a beta of 1.80. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.56.

Berry Increases Dividend

The company also recently declared a None dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 15th were issued a dividend of $0.26 per share. This represents a dividend yield of 6.7%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Berry’s previous None dividend of $0.21. Berry’s dividend payout ratio is 104.35%.

Institutional Trading of Berry

A number of institutional investors and hedge funds have recently made changes to their positions in BRY. Alliancebernstein L.P. lifted its stake in Berry by 302.2% in the 3rd quarter. Alliancebernstein L.P. now owns 8,847,928 shares of the energy company’s stock valued at $66,360,000 after purchasing an additional 6,648,164 shares during the last quarter. BlackRock Inc. lifted its stake in Berry by 2.6% in the 2nd quarter. BlackRock Inc. now owns 6,028,474 shares of the energy company’s stock valued at $41,476,000 after purchasing an additional 155,209 shares during the last quarter. FMR LLC lifted its stake in Berry by 7.1% in the 1st quarter. FMR LLC now owns 5,639,983 shares of the energy company’s stock valued at $44,274,000 after purchasing an additional 371,725 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Berry by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,537,851 shares of the energy company’s stock valued at $31,902,000 after purchasing an additional 284,757 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Berry by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 4,282,299 shares of the energy company’s stock valued at $30,105,000 after purchasing an additional 226,019 shares during the last quarter. Institutional investors own 94.88% of the company’s stock.

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.