Cubist Systematic Strategies LLC Acquires New Position in Berry Corporation $BRY

Cubist Systematic Strategies LLC acquired a new stake in shares of Berry Corporation (NASDAQ:BRY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 279,603 shares of the energy company’s stock, valued at approximately $898,000. Cubist Systematic Strategies LLC owned 0.36% of Berry at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BRY. Pinnacle Holdings LLC bought a new position in shares of Berry during the 1st quarter valued at approximately $27,000. Cambridge Investment Research Advisors Inc. purchased a new position in Berry in the 1st quarter worth approximately $34,000. PNC Financial Services Group Inc. lifted its holdings in Berry by 130.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,869 shares of the energy company’s stock worth $38,000 after purchasing an additional 6,722 shares in the last quarter. FORA Capital LLC purchased a new position in Berry in the 1st quarter worth approximately $38,000. Finally, R Squared Ltd lifted its holdings in Berry by 103.3% in the 1st quarter. R Squared Ltd now owns 14,050 shares of the energy company’s stock worth $45,000 after purchasing an additional 7,140 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BRY shares. Wall Street Zen cut Berry from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Piper Sandler lowered their price target on Berry from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, July 17th. Finally, Johnson Rice raised Berry from an “accumulate” rating to a “buy” rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Berry currently has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Berry Stock Performance

NASDAQ:BRY opened at $3.18 on Wednesday. The stock’s fifty day moving average is $3.07 and its 200 day moving average is $2.97. Berry Corporation has a fifty-two week low of $2.11 and a fifty-two week high of $5.90. The firm has a market capitalization of $246.77 million, a PE ratio of 45.43 and a beta of 1.24. 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 (NASDAQ:BRY) last released its quarterly earnings results on Wednesday, August 6th. The energy company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.65. Berry had a return on equity of 5.27% and a net margin of 0.60%.The company had revenue of $210.08 million for the quarter, compared to analyst estimates of $155.00 million. On average, sell-side analysts anticipate that Berry Corporation will post 0.58 earnings per share for the current year.

Berry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, August 18th. Berry’s dividend payout ratio is presently 171.43%.

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.