Victory Capital Management Inc. Boosts Stock Holdings in Berry Co. (NASDAQ:BRY)

Victory Capital Management Inc. boosted its position in Berry Co. (NASDAQ:BRY) by 38.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 534,043 shares of the energy company’s stock after purchasing an additional 147,757 shares during the period. Victory Capital Management Inc. owned about 0.69% of Berry worth $2,206,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BRY. Empowered Funds LLC lifted its stake in Berry by 5.3% in the third quarter. Empowered Funds LLC now owns 388,012 shares of the energy company’s stock valued at $1,994,000 after purchasing an additional 19,698 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Berry during the third quarter worth $126,000. Massachusetts Financial Services Co. MA lifted its position in shares of Berry by 34.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 357,725 shares of the energy company’s stock worth $1,839,000 after acquiring an additional 91,642 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Berry by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,452,032 shares of the energy company’s stock worth $7,463,000 after acquiring an additional 91,254 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Berry during the third quarter worth $264,000. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Berry Trading Down 1.2 %

NASDAQ:BRY opened at $3.34 on Tuesday. The company has a market cap of $256.98 million, a P/E ratio of 3.09 and a beta of 1.67. The stock’s fifty day moving average price is $4.27 and its two-hundred day moving average price is $4.60. Berry Co. has a 1 year low of $3.06 and a 1 year high of $8.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80.

Berry (NASDAQ:BRY) last issued its quarterly earnings data on Wednesday, March 12th. The energy company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. Berry had a return on equity of 6.50% and a net margin of 9.40%. The company had revenue of $167.06 million for the quarter, compared to the consensus estimate of $173.00 million. As a group, analysts expect that Berry Co. will post 0.58 EPS for the current year.

Berry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 22nd will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.59%. Berry’s dividend payout ratio (DPR) is presently 48.00%.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their target price on 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.