Berry (NASDAQ:BRY) Stock Rating Upgraded by Johnson Rice

Berry (NASDAQ:BRY) was upgraded by Johnson Rice from an “accumulate” rating to a “buy” rating in a report released on Wednesday, MarketBeat.com reports.

Berry Price Performance

Shares of NASDAQ:BRY opened at $2.49 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market cap of $193.21 million, a P/E ratio of 2.31 and a beta of 1.15. Berry has a 52 week low of $2.11 and a 52 week high of $7.18. The company has a 50-day moving average price of $2.73 and a 200 day moving average price of $3.72.

Berry (NASDAQ:BRY) last posted its quarterly earnings results on Thursday, May 8th. The energy company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $182.65 million during the quarter, compared to analysts’ expectations of $177.00 million. Berry had a return on equity of 6.50% and a net margin of 9.40%. Research analysts predict that Berry will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On Berry

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. raised its position in Berry by 11.4% during the fourth quarter. American Century Companies Inc. now owns 2,101,825 shares of the energy company’s stock worth $8,681,000 after acquiring an additional 214,580 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Berry by 91.0% in the fourth quarter. JPMorgan Chase & Co. now owns 514,718 shares of the energy company’s stock valued at $2,126,000 after buying an additional 245,216 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Berry by 59.7% in the 4th quarter. New York State Common Retirement Fund now owns 69,036 shares of the energy company’s stock valued at $285,000 after acquiring an additional 25,800 shares during the last quarter. Barclays PLC increased its stake in shares of Berry by 36.3% during the 4th quarter. Barclays PLC now owns 272,686 shares of the energy company’s stock valued at $1,126,000 after acquiring an additional 72,566 shares during the last quarter. Finally, South Dakota Investment Council increased its position in Berry by 66.4% during the fourth quarter. South Dakota Investment Council now owns 1,958,864 shares of the energy company’s stock worth $8,090,000 after purchasing an additional 781,562 shares during the last quarter. 94.88% of the stock is owned by institutional investors and hedge funds.

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.