Cwm LLC Boosts Stock Position in Berry Corporation $BRY

Cwm LLC grew its stake in Berry Corporation (NASDAQ:BRY) by 121.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,390 shares of the energy company’s stock after purchasing an additional 19,992 shares during the period. Cwm LLC’s holdings in Berry were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in Berry by 9.9% in the first quarter. American Century Companies Inc. now owns 2,310,008 shares of the energy company’s stock valued at $7,415,000 after purchasing an additional 208,183 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Berry by 22.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,543,544 shares of the energy company’s stock valued at $4,955,000 after purchasing an additional 283,940 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Berry by 10,449.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 152,651 shares of the energy company’s stock worth $423,000 after buying an additional 151,204 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Berry by 119.5% during the 1st quarter. Russell Investments Group Ltd. now owns 267,449 shares of the energy company’s stock worth $859,000 after buying an additional 145,582 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Berry by 82.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,164,123 shares of the energy company’s stock worth $3,731,000 after buying an additional 527,463 shares during the last quarter. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRY has been the subject of a number of recent analyst reports. Weiss Ratings raised Berry from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. Johnson Rice downgraded Berry from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a report on Tuesday, September 16th. Zacks Research downgraded Berry from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. Piper Sandler decreased their price target on Berry from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, July 17th. Finally, Wall Street Zen downgraded Berry from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Berry presently has an average rating of “Reduce” and a consensus target price of $4.00.

Berry Stock Up 1.2%

Berry stock opened at $3.37 on Friday. Berry Corporation has a fifty-two week low of $2.11 and a fifty-two week high of $5.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $261.51 million, a P/E ratio of 48.14 and a beta of 1.20. The stock has a 50-day simple moving average of $3.54 and a 200-day simple moving average of $3.08.

Berry (NASDAQ:BRY) last posted 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. The business had revenue of $210.08 million during 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%. Equities research analysts expect 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 given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 18th. Berry’s payout ratio is 171.43%.

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.