Meeder Asset Management Inc. Buys 2,186 Shares of Berry Co. (NASDAQ:BRY)

Meeder Asset Management Inc. increased its position in shares of Berry Co. (NASDAQ:BRY) by 43.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,212 shares of the energy company’s stock after acquiring an additional 2,186 shares during the quarter. Meeder Asset Management Inc.’s holdings in Berry were worth $47,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BRY. Charles Schwab Investment Management Inc. raised its stake in Berry by 11.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,207,323 shares of the energy company’s stock worth $8,487,000 after buying an additional 121,769 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Berry by 228.7% in the second quarter. Harbor Capital Advisors Inc. now owns 190,544 shares of the energy company’s stock valued at $1,231,000 after buying an additional 132,568 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Berry by 36.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,323,216 shares of the energy company’s stock valued at $10,652,000 after buying an additional 356,525 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Berry during the second quarter worth $1,736,000. Finally, Truist Financial Corp raised its holdings in shares of Berry by 23.5% during the fourth quarter. Truist Financial Corp now owns 48,014 shares of the energy company’s stock worth $338,000 after acquiring an additional 9,124 shares during the period. Institutional investors and hedge funds own 94.88% of the company’s stock.

Insider Buying and Selling at Berry

In other news, CEO Fernando Araujo sold 33,950 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 of the company’s stock, valued at approximately $1,573,939.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Berry Trading Up 2.1 %

NASDAQ BRY opened at $5.42 on Friday. The stock has a market capitalization of $417.01 million, a price-to-earnings ratio of 542.00 and a beta of 1.73. Berry Co. has a 52 week low of $5.09 and a 52 week high of $8.91. The stock’s 50 day moving average price is $6.26 and its two-hundred day moving average price is $6.99. 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 (NASDAQ:BRY) last announced its earnings results on Friday, August 9th. The energy company reported $0.18 EPS for the quarter, missing the consensus estimate 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 business had revenue of $197.80 million for the quarter, compared to analyst estimates of $187.38 million. During the same quarter in the previous year, the company posted $0.15 EPS. The business’s revenue for the quarter was down 13.8% compared to the same quarter last year. As a group, analysts anticipate that Berry Co. will post 0.61 earnings per share for the current fiscal year.

Berry Dividend Announcement

The business 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 annualized dividend and a yield of 8.86%. Berry’s dividend payout ratio (DPR) is presently 4,800.00%.

Analyst Ratings Changes

Separately, Piper Sandler lowered 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 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.