BNP Paribas Financial Markets Grows Stock Position in Berry Co. (NASDAQ:BRY)

BNP Paribas Financial Markets boosted its position in shares of Berry Co. (NASDAQ:BRY) by 78.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,769 shares of the energy company’s stock after buying an additional 15,753 shares during the quarter. BNP Paribas Financial Markets’ holdings in Berry were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Federated Hermes Inc. purchased a new stake in Berry in the second quarter worth $25,000. CWM LLC increased its stake in Berry by 287.4% in the 2nd 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 period. Meeder Asset Management Inc. lifted its holdings in Berry by 43.5% during 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 in the last quarter. Innealta Capital LLC purchased a new stake in Berry in the 2nd quarter valued at about $50,000. Finally, International Assets Investment Management LLC bought a new position in Berry in the 3rd quarter worth about $530,000. Institutional investors own 94.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Berry Stock Performance

Shares of Berry stock opened at $4.15 on Wednesday. The company has a 50 day moving average price of $4.67 and a 200 day moving average price of $5.61. The firm has a market capitalization of $319.30 million, a P/E ratio of 3.80 and a beta of 1.67. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. Berry Co. has a 52 week low of $3.87 and a 52 week high of $8.88.

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

Berry Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a yield of 2.89%. Berry’s dividend payout ratio is presently 11.11%.

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.