Mackenzie Financial Corp Raises Stake in Berry Co. (NASDAQ:BRY)

Mackenzie Financial Corp raised its position in Berry Co. (NASDAQ:BRY) by 29.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,311 shares of the energy company’s stock after acquiring an additional 4,343 shares during the quarter. Mackenzie Financial Corp’s holdings in Berry were worth $125,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BRY. Quadrature Capital Ltd purchased a new stake in shares of Berry during the 4th quarter worth approximately $105,000. Viking Fund Management LLC purchased a new stake in shares of Berry during the 1st quarter worth approximately $40,000. Diversified Trust Co lifted its position in shares of Berry by 7.2% during the 1st quarter. Diversified Trust Co now owns 21,514 shares of the energy company’s stock worth $173,000 after buying an additional 1,450 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Berry by 8.2% during the 1st quarter. Empowered Funds LLC now owns 341,854 shares of the energy company’s stock worth $2,752,000 after buying an additional 25,867 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Berry by 29.8% in the 1st quarter. Russell Investments Group Ltd. now owns 83,338 shares of the energy company’s stock valued at $671,000 after acquiring an additional 19,127 shares during the period. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their target price on shares of Berry from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

Insider Buying and Selling at Berry

In other Berry news, CEO Fernando Araujo sold 33,950 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,573,939.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Berry Stock Performance

Shares of Berry stock opened at $5.42 on Tuesday. 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 stock has a market capitalization of $417.01 million, a price-to-earnings ratio of 542.00 and a beta of 1.72. The firm’s fifty day simple moving average is $5.80 and its 200-day simple moving average is $6.76. Berry Co. has a 12 month low of $4.82 and a 12 month high of $8.91.

Berry (NASDAQ:BRY) last announced 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). The firm had revenue of $197.80 million during the quarter, compared to analyst estimates of $187.38 million. Berry had a negative net margin of 4.19% and a positive return on equity of 6.69%. The business’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. As a group, equities analysts forecast that Berry Co. will post 0.59 earnings per share for the current year.

Berry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were paid a $0.12 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.48 annualized dividend and a yield of 8.86%. Berry’s dividend payout ratio is currently 4,800.00%.

Berry 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.