FY2024 EPS Estimates for Berry Cut by Capital One Financial

Berry Co. (NASDAQ:BRY) – Equities researchers at Capital One Financial dropped their FY2024 earnings estimates for Berry in a research note issued on Monday, November 18th. Capital One Financial analyst B. Velie now expects that the energy company will post earnings per share of $0.58 for the year, down from their prior forecast of $0.69. The consensus estimate for Berry’s current full-year earnings is $0.61 per share. Capital One Financial also issued estimates for Berry’s Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.16 EPS and Q4 2025 earnings at $0.17 EPS.

Separately, Piper Sandler lowered their price objective on shares of Berry from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Monday.

Berry Price Performance

Shares of Berry stock opened at $4.19 on Wednesday. Berry has a twelve month low of $4.10 and a twelve month high of $8.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $5.12 and a two-hundred day simple moving average of $6.03. The stock has a market capitalization of $322.38 million, a price-to-earnings ratio of 3.89 and a beta of 1.72.

Berry (NASDAQ:BRY) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The firm had revenue of $259.80 million during the quarter, compared to the consensus estimate of $186.67 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. The business’s revenue was up 31.3% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS.

Berry Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 15th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, November 15th. Berry’s dividend payout ratio is presently 11.11%.

Insiders Place Their Bets

In other news, CEO Fernando Araujo sold 33,950 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 253,045 shares in the company, valued at $1,573,939.90. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Berry

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRY. Barclays PLC boosted its position in shares of Berry by 155.2% in the third quarter. Barclays PLC now owns 200,120 shares of the energy company’s stock valued at $1,029,000 after acquiring an additional 121,693 shares during the period. McIlrath & Eck LLC purchased a new stake in Berry in the third quarter valued at approximately $47,000. Geode Capital Management LLC raised its stake in Berry by 10.2% in the third quarter. Geode Capital Management LLC now owns 1,903,951 shares of the energy company’s stock valued at $9,788,000 after purchasing an additional 176,280 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in Berry by 12.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 119,153 shares of the energy company’s stock valued at $612,000 after purchasing an additional 13,617 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in Berry in the third quarter valued at approximately $106,000. Institutional investors own 94.88% of the company’s stock.

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.