Piper Sandler Issues Pessimistic Forecast for Berry (NASDAQ:BRY) Stock Price

Berry (NASDAQ:BRY) had its price objective dropped by research analysts at Piper Sandler from $7.00 to $5.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. Piper Sandler’s target price suggests a potential upside of 19.05% from the company’s current price.

Berry Trading Down 3.9 %

Shares of BRY opened at $4.20 on Monday. Berry has a fifty-two week low of $4.16 and a fifty-two week high of $8.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The company’s fifty day moving average is $5.14 and its 200 day moving average is $6.06. The stock has a market capitalization of $323.15 million, a PE ratio of 3.89 and a beta of 1.72.

Berry (NASDAQ:BRY) last issued its quarterly earnings data on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $259.80 million for the quarter, compared to analysts’ expectations of $186.67 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. Sell-side analysts expect that Berry will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at Berry

In other Berry news, CEO Fernando Araujo sold 33,950 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $6.22, for a total transaction of $211,169.00. Following the transaction, the chief executive officer now directly owns 253,045 shares in the company, valued at $1,573,939.90. This represents a 11.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Berry

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System lifted its holdings in Berry by 9.3% during the second quarter. Arizona State Retirement System now owns 20,462 shares of the energy company’s stock worth $132,000 after buying an additional 1,747 shares during the period. Meeder Asset Management Inc. boosted its position in Berry by 43.5% during the second quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock valued at $47,000 after purchasing an additional 2,186 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Berry by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 103,413 shares of the energy company’s stock valued at $668,000 after purchasing an additional 2,216 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Berry by 16.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,664 shares of the energy company’s stock worth $175,000 after purchasing an additional 2,999 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of Berry by 14.4% during the second quarter. Diversified Trust Co now owns 24,615 shares of the energy company’s stock valued at $159,000 after buying an additional 3,101 shares during the last quarter. 94.88% of the stock is currently owned by institutional investors.

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.