Massachusetts Financial Services Co. MA Purchases Shares of 266,083 Berry Co. (NASDAQ:BRY)

Massachusetts Financial Services Co. MA acquired a new position in shares of Berry Co. (NASDAQ:BRY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 266,083 shares of the energy company’s stock, valued at approximately $1,719,000. Massachusetts Financial Services Co. MA owned 0.35% of Berry as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BRY. Quadrant Capital Group LLC raised its stake in Berry by 211.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,905 shares of the energy company’s stock worth $27,000 after buying an additional 2,653 shares during the period. Federated Hermes Inc. bought a new stake in Berry during the 2nd quarter valued at $25,000. Gladius Capital Management LP bought a new position in Berry in the 2nd quarter valued at about $27,000. CWM LLC boosted its holdings in Berry by 287.4% during the 2nd quarter. CWM LLC now owns 4,560 shares of the energy company’s stock worth $29,000 after acquiring an additional 3,383 shares during the last quarter. Finally, Viking Fund Management LLC bought a new position in shares of Berry during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 94.88% of the company’s stock.

Berry Stock Performance

NASDAQ BRY opened at $5.41 on Monday. The company has a market capitalization of $416.24 million, a PE ratio of 541.00 and a beta of 1.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.62 and a current ratio of 0.62. Berry Co. has a 52-week low of $5.09 and a 52-week high of $8.91. The company has a 50-day simple moving average of $6.15 and a 200 day simple moving average of $6.93.

Berry (NASDAQ:BRY) last posted its quarterly earnings results on Friday, August 9th. The energy company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Berry had a positive return on equity of 6.69% and a negative net margin of 4.19%. The company had revenue of $197.80 million during the quarter, compared to the consensus estimate of $187.38 million. During the same period last year, the firm posted $0.15 EPS. The company’s revenue for the quarter was down 13.8% compared to the same quarter last year. On average, research analysts predict that Berry Co. will post 0.61 EPS for the current year.

Berry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were paid a $0.12 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.48 annualized dividend and a dividend yield of 8.87%. Berry’s payout ratio is 4,800.00%.

Insider Activity at Berry

In related news, CEO Fernando Araujo sold 33,950 shares of Berry stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $6.22, for a total value of $211,169.00. Following the completion of the transaction, the chief executive officer now directly owns 253,045 shares in the company, valued at approximately $1,573,939.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their target price on Berry from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

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.