Northern Trust Corp Decreases Stock Holdings in Berry Co. (NASDAQ:BRY)

Northern Trust Corp trimmed its position in Berry Co. (NASDAQ:BRY) by 24.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 699,019 shares of the energy company’s stock after selling 228,554 shares during the quarter. Northern Trust Corp owned 0.91% of Berry worth $2,887,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Berry by 12.2% in the fourth quarter. Vanguard Group Inc. now owns 5,980,118 shares of the energy company’s stock valued at $24,698,000 after acquiring an additional 652,416 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Berry by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,729,339 shares of the energy company’s stock valued at $11,682,000 after acquiring an additional 35,728 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Berry by 31.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,403,588 shares of the energy company’s stock valued at $9,927,000 after acquiring an additional 571,812 shares in the last quarter. American Century Companies Inc. boosted its holdings in Berry by 11.4% in the fourth quarter. American Century Companies Inc. now owns 2,101,825 shares of the energy company’s stock valued at $8,681,000 after acquiring an additional 214,580 shares in the last quarter. Finally, South Dakota Investment Council boosted its holdings in Berry by 66.4% in the fourth quarter. South Dakota Investment Council now owns 1,958,864 shares of the energy company’s stock valued at $8,090,000 after acquiring an additional 781,562 shares in the last quarter. 94.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Johnson Rice upgraded shares of Berry from an “accumulate” rating to a “buy” rating in a report on Wednesday.

Berry Price Performance

NASDAQ:BRY opened at $2.49 on Friday. The firm’s 50-day moving average price is $2.71 and its 200-day moving average price is $3.70. The company has a market capitalization of $193.21 million, a PE ratio of 2.31 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. Berry Co. has a 1-year low of $2.11 and a 1-year high of $7.05.

Berry (NASDAQ:BRY) last released its earnings results on Thursday, May 8th. The energy company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $182.65 million for the quarter, compared to the consensus estimate of $177.00 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. On average, equities analysts predict that Berry Co. will post 0.58 EPS for the current fiscal year.

Berry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, May 19th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, May 19th. Berry’s dividend payout ratio is presently -25.53%.

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.