Harbor Capital Advisors Inc. Purchases 151,204 Shares of Berry Corporation $BRY

Harbor Capital Advisors Inc. lifted its stake in Berry Corporation (NASDAQ:BRY) by 10,449.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,651 shares of the energy company’s stock after buying an additional 151,204 shares during the period. Harbor Capital Advisors Inc. owned about 0.20% of Berry worth $423,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BRY. Pinnacle Holdings LLC bought a new stake in shares of Berry in the first quarter valued at about $27,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Berry in the first quarter valued at about $34,000. PNC Financial Services Group Inc. lifted its stake in shares of Berry by 130.6% in the first quarter. PNC Financial Services Group Inc. now owns 11,869 shares of the energy company’s stock valued at $38,000 after buying an additional 6,722 shares during the period. FORA Capital LLC bought a new stake in shares of Berry in the first quarter valued at about $38,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of Berry in the first quarter valued at about $41,000. Institutional investors own 94.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Johnson Rice cut shares of Berry from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research note on Tuesday. Piper Sandler dropped their price target on shares of Berry from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, July 17th. Finally, Wall Street Zen lowered shares of Berry from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.00.

Berry Stock Performance

Shares of Berry stock opened at $3.90 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $302.64 million, a P/E ratio of 55.71 and a beta of 1.24. The firm has a 50 day simple moving average of $3.16 and a 200 day simple moving average of $2.96. Berry Corporation has a fifty-two week low of $2.11 and a fifty-two week high of $5.90.

Berry (NASDAQ:BRY) last issued its quarterly earnings results on Wednesday, August 6th. The energy company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.65. Berry had a net margin of 0.60% and a return on equity of 5.27%. The business had revenue of $210.08 million during the quarter, compared to analyst estimates of $155.00 million. Sell-side analysts predict that Berry Corporation will post 0.58 earnings per share for the current fiscal year.

Berry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.12 dividend on an annualized basis and a yield of 3.1%. Berry’s dividend payout ratio (DPR) 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.