Bailard Inc. Takes Position in Berry Co. (NASDAQ:BRY)

Bailard Inc. acquired a new position in Berry Co. (NASDAQ:BRY) in the second quarter, Holdings Channel reports. The firm acquired 40,000 shares of the energy company’s stock, valued at approximately $258,000.

Other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its position in shares of Berry by 211.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,905 shares of the energy company’s stock worth $27,000 after purchasing an additional 2,653 shares in the last quarter. Gladius Capital Management LP purchased a new stake in Berry in the 2nd quarter worth approximately $27,000. CWM LLC boosted its stake in shares of Berry by 287.4% during the 2nd quarter. CWM LLC now owns 4,560 shares of the energy company’s stock valued at $29,000 after buying an additional 3,383 shares during the period. Viking Fund Management LLC purchased a new position in shares of Berry during the 1st quarter valued at $40,000. Finally, AJOVista LLC purchased a new stake in shares of Berry during the fourth quarter worth $58,000. 94.88% of the stock is owned by institutional investors and hedge funds.

Berry Trading Up 0.2 %

NASDAQ:BRY opened at $6.24 on Tuesday. The company’s 50 day moving average is $6.44 and its 200-day moving average is $7.10. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.65. Berry Co. has a 12 month low of $5.63 and a 12 month high of $8.94. The firm has a market cap of $480.10 million, a price-to-earnings ratio of 624.00 and a beta of 1.77.

Berry (NASDAQ:BRY) last released its 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). The firm had revenue of $197.80 million for the quarter, compared to analyst estimates of $187.38 million. Berry had a return on equity of 6.15% and a net margin of 0.41%. The firm’s revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. Equities analysts anticipate that Berry Co. will post 0.84 EPS for the current year.

Berry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 23rd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 7.69%. The ex-dividend date of this dividend is Friday, August 23rd. Berry’s dividend payout ratio is currently 4,800.00%.

Insider Transactions at Berry

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

Analyst Ratings Changes

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

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.