Cubist Systematic Strategies LLC Grows Holdings in Berry Co. (NASDAQ:BRY)

Cubist Systematic Strategies LLC lifted its position in shares of Berry Co. (NASDAQ:BRY) by 825.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 214,299 shares of the energy company’s stock after buying an additional 191,137 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.28% of Berry worth $1,384,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Quadrature Capital Ltd acquired a new stake in Berry in the 4th quarter worth about $105,000. Viking Fund Management LLC acquired a new stake in shares of Berry in the first quarter worth approximately $40,000. Diversified Trust Co grew its holdings in Berry by 7.2% in the first quarter. Diversified Trust Co now owns 21,514 shares of the energy company’s stock valued at $173,000 after purchasing an additional 1,450 shares during the period. Empowered Funds LLC grew its holdings in Berry by 8.2% in the first quarter. Empowered Funds LLC now owns 341,854 shares of the energy company’s stock valued at $2,752,000 after purchasing an additional 25,867 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Berry by 29.8% during the first quarter. Russell Investments Group Ltd. now owns 83,338 shares of the energy company’s stock worth $671,000 after purchasing an additional 19,127 shares during the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.

Insider Activity at Berry

In related news, CEO Fernando Araujo sold 33,950 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $6.22, for a total transaction of $211,169.00. Following the transaction, the chief executive officer now directly owns 253,045 shares of the company’s stock, valued at approximately $1,573,939.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price objective on shares of Berry from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Berry Stock Performance

Berry stock opened at $5.18 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. Berry Co. has a 12 month low of $4.82 and a 12 month high of $8.91. The company has a market cap of $398.54 million, a price-to-earnings ratio of 518.00 and a beta of 1.73. The stock’s 50-day moving average is $5.94 and its 200-day moving average is $6.84.

Berry (NASDAQ:BRY) last announced its quarterly earnings results on Friday, August 9th. The energy company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Berry had a negative net margin of 4.19% and a positive return on equity of 6.69%. The business had revenue of $197.80 million for the quarter, compared to analyst estimates of $187.38 million. During the same period last year, the firm earned $0.15 earnings per share. The company’s quarterly revenue was down 13.8% on a year-over-year basis. Equities analysts anticipate that Berry Co. will post 0.59 earnings per share for the current year.

Berry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 9.27%. Berry’s dividend payout ratio (DPR) is 4,800.00%.

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.