Dynamic Technology Lab Private Ltd Takes Position in Berry Co. (NASDAQ:BRY)

Dynamic Technology Lab Private Ltd purchased a new stake in Berry Co. (NASDAQ:BRY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,389 shares of the energy company’s stock, valued at approximately $264,000. Dynamic Technology Lab Private Ltd owned about 0.07% of Berry at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BRY. Charles Schwab Investment Management Inc. lifted its stake in Berry by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,452,032 shares of the energy company’s stock valued at $7,463,000 after purchasing an additional 91,254 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Berry by 34.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 357,725 shares of the energy company’s stock valued at $1,839,000 after buying an additional 91,642 shares during the period. Intech Investment Management LLC bought a new stake in shares of Berry in the third quarter valued at $126,000. Empowered Funds LLC lifted its position in shares of Berry by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 388,012 shares of the energy company’s stock valued at $1,994,000 after buying an additional 19,698 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Berry by 48.5% during the 3rd quarter. Victory Capital Management Inc. now owns 386,286 shares of the energy company’s stock worth $1,986,000 after acquiring an additional 126,175 shares during the period. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Berry Stock Up 3.8 %

BRY opened at $4.08 on Monday. The company has a 50 day moving average of $4.91 and a 200 day moving average of $5.84. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. Berry Co. has a 12 month low of $3.88 and a 12 month high of $8.88. The company has a market cap of $313.92 million, a PE ratio of 3.78 and a beta of 1.72.

Berry (NASDAQ:BRY) last issued its earnings results on Thursday, November 7th. The energy company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Berry had a return on equity of 6.50% and a net margin of 9.40%. The company had revenue of $259.80 million during the quarter, compared to the consensus estimate of $186.67 million. During the same quarter in the prior year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, sell-side analysts expect that Berry Co. will post 0.6 EPS for the current year.

Berry Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Friday, November 15th. Berry’s dividend payout ratio (DPR) is presently 11.11%.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price objective on shares of Berry from $7.00 to $5.00 and set a “neutral” rating on the stock in a 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.