Fmr LLC Grows Stock Holdings in Berry Co. (NASDAQ:BRY)

Fmr LLC grew its stake in Berry Co. (NASDAQ:BRY) by 40.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,606 shares of the energy company’s stock after purchasing an additional 5,115 shares during the period. Fmr LLC’s holdings in Berry were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new stake in Berry in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. increased its position in Berry by 43.5% during the second quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock worth $47,000 after purchasing an additional 2,186 shares during the last quarter. Innealta Capital LLC purchased a new position in Berry during the second quarter worth about $50,000. International Assets Investment Management LLC purchased a new stake in shares of Berry in the 3rd quarter valued at approximately $530,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Berry by 29.0% during the 2nd quarter. Mackenzie Financial Corp now owns 19,311 shares of the energy company’s stock worth $125,000 after buying an additional 4,343 shares during the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.

Berry Stock Up 0.3 %

Shares of BRY opened at $3.80 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The firm has a market cap of $292.37 million, a P/E ratio of 3.52 and a beta of 1.68. The company’s 50-day moving average price is $4.52 and its 200 day moving average price is $5.52. Berry Co. has a 12-month low of $3.72 and a 12-month high of $8.88.

Berry (NASDAQ:BRY) last issued its quarterly earnings data on Thursday, November 7th. The energy company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $259.80 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, sell-side analysts forecast that Berry Co. will post 0.6 earnings per share for the current year.

Berry Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.16%. Berry’s payout ratio is presently 11.11%.

Analyst Upgrades and Downgrades

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

Berry Company 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.