Rhumbline Advisers Purchases 11,892 Shares of Berry Corporation $BRY

Rhumbline Advisers boosted its stake in shares of Berry Corporation (NASDAQ:BRY) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 151,809 shares of the energy company’s stock after acquiring an additional 11,892 shares during the quarter. Rhumbline Advisers owned about 0.20% of Berry worth $487,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Pinnacle Holdings LLC bought a new stake in Berry during the first quarter worth approximately $27,000. Cambridge Investment Research Advisors Inc. bought a new stake in Berry during the first quarter worth approximately $34,000. FORA Capital LLC bought a new stake in Berry during the first quarter worth approximately $38,000. PNC Financial Services Group Inc. increased its stake in Berry by 130.6% during the first quarter. PNC Financial Services Group Inc. now owns 11,869 shares of the energy company’s stock worth $38,000 after acquiring an additional 6,722 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in Berry during the first quarter worth approximately $41,000. 94.88% of the stock is owned by institutional investors.

Berry Stock Up 1.3%

Berry stock opened at $3.93 on Wednesday. The business has a fifty day moving average of $3.20 and a two-hundred day moving average of $2.96. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a market cap of $304.95 million, a P/E ratio of 56.14 and a beta of 1.24. Berry Corporation has a twelve month low of $2.11 and a twelve month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.65. The business had revenue of $210.08 million for the quarter, compared to the consensus estimate of $155.00 million. Berry had a return on equity of 5.27% and a net margin of 0.60%. On average, analysts forecast that Berry Corporation will post 0.58 earnings per share for the current fiscal year.

Berry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, August 18th. Berry’s dividend payout ratio is presently 171.43%.

Wall Street Analyst Weigh In

BRY has been the subject of several recent analyst reports. Piper Sandler dropped their target price on Berry from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, July 17th. Johnson Rice lowered Berry from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Tuesday, September 16th. Finally, Wall Street Zen lowered Berry from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Berry has a consensus rating of “Hold” and an average target price 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.