Berry Co. (NASDAQ:BRY) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Berry Co. (NASDAQ:BRY) by 10.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,903,951 shares of the energy company’s stock after acquiring an additional 176,280 shares during the period. Geode Capital Management LLC owned about 2.47% of Berry worth $9,788,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. acquired a new stake in Berry in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. lifted its holdings in shares of Berry by 43.5% in the second 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 in the last quarter. Quarry LP grew its position in shares of Berry by 390.6% in the third quarter. Quarry LP now owns 12,643 shares of the energy company’s stock valued at $65,000 after purchasing an additional 10,066 shares during the last quarter. FMR LLC increased its stake in shares of Berry by 40.9% during the 3rd quarter. FMR LLC now owns 17,606 shares of the energy company’s stock worth $90,000 after purchasing an additional 5,115 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of Berry during the 3rd quarter worth approximately $106,000. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Berry Price Performance

NASDAQ:BRY opened at $4.13 on Thursday. Berry Co. has a 12-month low of $3.72 and a 12-month high of $8.88. The firm has a market cap of $317.76 million, a price-to-earnings ratio of 3.82 and a beta of 1.67. The company’s 50-day moving average is $4.35 and its two-hundred day moving average is $5.41. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54.

Berry (NASDAQ:BRY) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $259.80 million for the quarter, compared to analysts’ expectations of $186.67 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. The business’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 EPS. Research analysts expect that Berry Co. will post 0.6 EPS for the current year.

Berry Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, November 15th. Berry’s dividend payout ratio is currently 11.11%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price target on Berry from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Monday, November 18th.

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.