Berry Co. (NASDAQ:BRY) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of Berry Co. (NASDAQ:BRY) by 48.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 386,286 shares of the energy company’s stock after acquiring an additional 126,175 shares during the quarter. Victory Capital Management Inc. owned about 0.50% of Berry worth $1,986,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BRY. Federated Hermes Inc. acquired a new stake in Berry during the 2nd quarter valued at $25,000. Gladius Capital Management LP acquired a new stake in Berry in the 2nd quarter worth $27,000. CWM LLC raised its stake in shares of Berry by 287.4% in the second quarter. CWM LLC now owns 4,560 shares of the energy company’s stock valued at $29,000 after purchasing an additional 3,383 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Berry by 43.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock valued at $47,000 after buying an additional 2,186 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Berry in the 2nd quarter valued at $50,000. 94.88% of the stock is owned by institutional investors and hedge funds.

Berry Stock Performance

Shares of NASDAQ:BRY opened at $4.23 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The business’s fifty day moving average price is $5.05 and its two-hundred day moving average price is $5.97. Berry Co. has a fifty-two week low of $4.10 and a fifty-two week high of $8.88. The stock has a market capitalization of $325.46 million, a price-to-earnings ratio of 3.92 and a beta of 1.72.

Berry (NASDAQ:BRY) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $259.80 million for the quarter, compared to the consensus estimate of $186.67 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 earnings per share. As a group, analysts predict that Berry Co. will post 0.6 EPS for the current fiscal year.

Berry Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 15th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a yield of 2.84%. Berry’s dividend payout ratio is 11.11%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their target price on shares of Berry from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th.

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.