Wealth Enhancement Advisory Services LLC Makes New $51,000 Investment in Berry Corporation $BRY

Wealth Enhancement Advisory Services LLC bought a new position in shares of Berry Corporation (NASDAQ:BRY) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 18,465 shares of the energy company’s stock, valued at approximately $51,000.

Several other hedge funds have also recently bought and sold shares of BRY. Rhumbline Advisers raised its holdings in Berry by 8.5% during the 1st quarter. Rhumbline Advisers now owns 151,809 shares of the energy company’s stock worth $487,000 after buying an additional 11,892 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Berry in the first quarter valued at approximately $238,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Berry in the first quarter valued at approximately $34,000. Bank of New York Mellon Corp raised its holdings in shares of Berry by 41.2% in the first quarter. Bank of New York Mellon Corp now owns 734,297 shares of the energy company’s stock valued at $2,357,000 after purchasing an additional 214,344 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Berry in the first quarter valued at approximately $73,000. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Berry Price Performance

NASDAQ:BRY opened at $3.48 on Monday. Berry Corporation has a 1-year low of $2.11 and a 1-year high of $5.90. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $3.38 and a 200 day simple moving average of $3.00. The stock has a market capitalization of $270.05 million, a PE ratio of 49.71 and a beta of 1.20.

Berry (NASDAQ:BRY) last released its 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 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 analysts’ expectations of $155.00 million. On average, research analysts expect that Berry Corporation will post 0.58 EPS for the current fiscal year.

Berry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, August 18th. Berry’s payout ratio is 171.43%.

Analyst Ratings Changes

A number of analysts have recently issued reports on BRY shares. Piper Sandler lowered their price objective on shares of Berry from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, July 17th. Johnson Rice downgraded shares of Berry from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a report on Tuesday, September 16th. Weiss Ratings downgraded shares of Berry from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Berry from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $4.00.

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.