Capital One Financial Research Analysts Lower Earnings Estimates for Berry Co. (NASDAQ:BRY)

Berry Co. (NASDAQ:BRY) – Equities research analysts at Capital One Financial reduced their Q3 2024 earnings per share (EPS) estimates for shares of Berry in a report issued on Tuesday, September 17th. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.23. The consensus estimate for Berry’s current full-year earnings is $0.61 per share. Capital One Financial also issued estimates for Berry’s Q4 2024 earnings at $0.22 EPS, FY2024 earnings at $0.75 EPS, Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.25 EPS and Q4 2025 earnings at $0.26 EPS.

Berry (NASDAQ:BRY) last posted its quarterly earnings results on Friday, August 9th. The energy company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $187.38 million. Berry had a positive return on equity of 6.69% and a negative net margin of 4.19%. The business’s quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 EPS.

Separately, Piper Sandler reduced their price objective on shares of Berry from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Berry Price Performance

Shares of NASDAQ:BRY opened at $5.49 on Thursday. The business has a fifty day moving average price of $6.20 and a 200-day moving average price of $6.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market capitalization of $422.40 million, a PE ratio of 549.00 and a beta of 1.73. Berry has a 1-year low of $5.09 and a 1-year high of $8.91.

Berry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.74%. The ex-dividend date of this dividend was Friday, August 23rd. Berry’s payout ratio is 4,800.00%.

Insider Transactions at Berry

In related news, CEO Fernando Araujo sold 33,950 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $6.22, for a total transaction of $211,169.00. Following the sale, the chief executive officer now directly owns 253,045 shares of the company’s stock, valued at $1,573,939.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC grew its position in Berry by 211.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,905 shares of the energy company’s stock worth $27,000 after purchasing an additional 2,653 shares during the period. Federated Hermes Inc. purchased a new stake in Berry during the second quarter valued at $25,000. Gladius Capital Management LP bought a new position in Berry in the second quarter valued at about $27,000. CWM LLC boosted its position in Berry by 287.4% in the second quarter. CWM LLC now owns 4,560 shares of the energy company’s stock worth $29,000 after purchasing an additional 3,383 shares during the last quarter. Finally, Viking Fund Management LLC bought a new stake in shares of Berry during the 1st quarter valued at about $40,000. Institutional investors own 94.88% of the company’s stock.

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.