Berry Co. (NASDAQ:BRY) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its position in shares of Berry Co. (NASDAQ:BRY) by 63.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,021 shares of the energy company’s stock after selling 71,195 shares during the period. Jane Street Group LLC owned 0.05% of Berry worth $211,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Berry by 39.1% in the 2nd quarter. Victory Capital Management Inc. now owns 260,111 shares of the energy company’s stock worth $1,680,000 after purchasing an additional 73,064 shares in the last quarter. Arizona State Retirement System grew its position in Berry by 9.3% in the second quarter. Arizona State Retirement System now owns 20,462 shares of the energy company’s stock worth $132,000 after buying an additional 1,747 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Berry by 23.6% during the 2nd quarter. American Century Companies Inc. now owns 1,664,292 shares of the energy company’s stock valued at $10,751,000 after acquiring an additional 318,223 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of 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 purchasing an additional 2,186 shares during the period. Finally, Federated Hermes Inc. purchased a new position in Berry in the 2nd quarter worth about $25,000. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler cut their price target 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.

Berry Price Performance

NASDAQ BRY opened at $4.77 on Monday. The firm has a market capitalization of $367.00 million, a price-to-earnings ratio of 4.42 and a beta of 1.64. 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 company has a 50 day simple moving average of $4.26 and a 200-day simple moving average of $5.32. Berry Co. has a 52-week low of $3.72 and a 52-week high of $8.88.

Berry (NASDAQ:BRY) last posted its quarterly 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 net margin of 9.40% and a return on equity of 6.50%. The company had revenue of $259.80 million for the quarter, compared to analysts’ expectations of $186.67 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The company’s revenue was up 31.3% on a year-over-year basis. Equities research analysts predict that Berry Co. will post 0.6 earnings per share for the current fiscal year.

Berry Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, November 15th. This represents a $0.12 annualized dividend and a dividend yield of 2.52%. Berry’s dividend payout ratio is 11.11%.

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.