Berry Corporation $BRY Shares Sold by Deutsche Bank AG

Deutsche Bank AG lowered its position in Berry Corporation (NASDAQ:BRY) by 16.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,050 shares of the energy company’s stock after selling 12,694 shares during the quarter. Deutsche Bank AG owned about 0.08% of Berry worth $202,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BRY. Susquehanna International Group LLP raised its position in shares of Berry by 964.4% during the 4th quarter. Susquehanna International Group LLP now owns 835,592 shares of the energy company’s stock valued at $3,451,000 after buying an additional 757,087 shares during the period. Vanguard Group Inc. increased its stake in Berry by 12.0% during the first quarter. Vanguard Group Inc. now owns 6,699,963 shares of the energy company’s stock worth $21,507,000 after acquiring an additional 719,845 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Berry by 94.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,148,446 shares of the energy company’s stock valued at $4,743,000 after purchasing an additional 557,842 shares during the period. Millennium Management LLC lifted its stake in shares of Berry by 130.2% in the 4th quarter. Millennium Management LLC now owns 902,743 shares of the energy company’s stock valued at $3,728,000 after purchasing an additional 510,512 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Berry during the 4th quarter worth $1,660,000. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Berry Stock Performance

Shares of Berry stock opened at $3.34 on Friday. The business has a 50-day simple moving average of $3.02 and a 200-day simple moving average of $3.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. Berry Corporation has a one year low of $2.11 and a one year high of $6.34. The company has a market cap of $259.18 million, a PE ratio of 47.71 and a beta of 1.12.

Berry (NASDAQ:BRY) last issued its earnings results on Wednesday, August 6th. The energy company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.65. The business had revenue of $210.08 million for the quarter, compared to analyst estimates of $155.00 million. Berry had a return on equity of 5.27% and a net margin of 0.60%. On average, equities research analysts forecast that Berry Corporation will post 0.58 EPS for the current fiscal year.

Berry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. Berry’s dividend payout ratio (DPR) is currently 171.43%.

Analysts Set New Price Targets

BRY has been the topic of a number of recent analyst reports. Piper Sandler decreased their target price on shares of Berry from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, July 17th. Wall Street Zen downgraded shares of Berry from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Johnson Rice raised Berry from an “accumulate” rating to a “buy” rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.00.

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.