Berry Co. (NASDAQ:BRY) Forecasted to Post Q2 2024 Earnings of $0.31 Per Share

Berry Co. (NASDAQ:BRY) – Capital One Financial lifted their Q2 2024 earnings per share (EPS) estimates for shares of Berry in a research note issued to investors on Tuesday, May 14th. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings per share of $0.31 for the quarter, up from their previous forecast of $0.30. The consensus estimate for Berry’s current full-year earnings is $0.89 per share. Capital One Financial also issued estimates for Berry’s FY2025 earnings at $1.50 EPS.

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

Berry Price Performance

Shares of NASDAQ:BRY opened at $7.17 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Berry has a 1 year low of $6.22 and a 1 year high of $8.94. The business has a fifty day simple moving average of $8.02 and a 200 day simple moving average of $7.33. The firm has a market cap of $551.66 million, a price-to-earnings ratio of 717.00 and a beta of 1.77.

Berry (NASDAQ:BRY) last released its earnings results on Wednesday, May 1st. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Berry had a net margin of 0.41% and a return on equity of 6.15%. The business had revenue of $202.31 million during the quarter, compared to analysts’ expectations of $182.65 million. During the same quarter in the previous year, the company earned $0.07 EPS. Berry’s revenue for the quarter was down 6.5% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BRY. Diversified Trust Co increased its holdings in Berry by 7.2% during the 1st quarter. Diversified Trust Co now owns 21,514 shares of the energy company’s stock valued at $173,000 after purchasing an additional 1,450 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Berry by 1.6% during the 4th quarter. SummerHaven Investment Management LLC now owns 99,791 shares of the energy company’s stock valued at $702,000 after purchasing an additional 1,580 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in Berry by 0.9% during the 4th quarter. Panagora Asset Management Inc. now owns 237,759 shares of the energy company’s stock valued at $1,671,000 after purchasing an additional 2,006 shares in the last quarter. Swiss National Bank increased its holdings in Berry by 1.7% during the 3rd quarter. Swiss National Bank now owns 152,500 shares of the energy company’s stock valued at $1,250,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Berry by 211.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,905 shares of the energy company’s stock valued at $27,000 after purchasing an additional 2,653 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Berry Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 15th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.48 annualized dividend and a dividend yield of 6.69%. Berry’s dividend payout ratio is currently 4,800.00%.

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.