Huber Capital Management LLC Has $1.02 Million Position in Berry Co. (NASDAQ:BRY)

Huber Capital Management LLC trimmed its holdings in shares of Berry Co. (NASDAQ:BRY) by 27.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,460 shares of the energy company’s stock after selling 59,800 shares during the period. Huber Capital Management LLC owned about 0.20% of Berry worth $1,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BRY. Quadrant Capital Group LLC raised its position in Berry by 211.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,905 shares of the energy company’s stock worth $27,000 after acquiring an additional 2,653 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Berry in the 2nd quarter valued at about $25,000. Gladius Capital Management LP bought a new position in Berry during the second quarter worth about $27,000. CWM LLC increased its position in Berry by 287.4% during the second quarter. CWM LLC now owns 4,560 shares of the energy company’s stock worth $29,000 after buying an additional 3,383 shares during the last quarter. Finally, Viking Fund Management LLC bought a new stake in Berry in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 94.88% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Fernando Araujo sold 33,950 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $6.22, for a total value of $211,169.00. Following the completion of the sale, the chief executive officer now owns 253,045 shares of the company’s stock, valued at $1,573,939.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Berry Price Performance

Shares of BRY opened at $5.41 on Friday. The company’s 50-day moving average is $6.15 and its 200-day moving average is $6.93. 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 firm has a market capitalization of $416.24 million, a PE ratio of 541.00 and a beta of 1.73. Berry Co. has a fifty-two week low of $5.09 and a fifty-two week high of $8.91.

Berry (NASDAQ:BRY) last issued its quarterly earnings data on Friday, August 9th. The energy company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Berry had a positive return on equity of 6.69% and a negative net margin of 4.19%. The company had revenue of $197.80 million for the quarter, compared to analyst estimates of $187.38 million. During the same quarter last year, the business earned $0.15 earnings per share. The company’s revenue was down 13.8% on a year-over-year basis. Equities analysts forecast that Berry Co. will post 0.61 EPS for the current year.

Berry Announces Dividend

The company also recently disclosed 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 yield of 8.87%. The ex-dividend date of this dividend was Friday, August 23rd. Berry’s dividend payout ratio is 4,800.00%.

Analysts Set New Price Targets

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

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.