Equities Analysts Issue Forecasts for Berry Co.’s Q3 2024 Earnings (NASDAQ:BRY)

Berry Co. (NASDAQ:BRY) – Equities researchers at Capital One Financial decreased their Q3 2024 earnings estimates for Berry in a research report issued to clients and investors on Tuesday, September 17th. Capital One Financial analyst B. Velie now forecasts that the energy company will earn $0.20 per share for the quarter, down from their previous forecast of $0.23. The consensus estimate for Berry’s current full-year earnings is $0.61 per share. Capital One Financial also issued estimates for Berry’s Q4 2024 earnings at $0.22 EPS, FY2024 earnings at $0.75 EPS, Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.25 EPS and Q4 2025 earnings at $0.26 EPS.

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

Berry Trading Up 0.5 %

BRY opened at $5.52 on Thursday. Berry has a twelve month low of $5.09 and a twelve month high of $8.91. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $6.18 and a 200-day moving average of $6.94. The stock has a market cap of $424.70 million, a PE ratio of 552.00 and a beta of 1.73.

Berry (NASDAQ:BRY) last posted its quarterly earnings data on Friday, August 9th. The energy company reported $0.18 earnings per share 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 firm had revenue of $197.80 million for the quarter, compared to analyst estimates of $187.38 million. During the same quarter last year, the company earned $0.15 earnings per share. The company’s quarterly revenue was down 13.8% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. HITE Hedge Asset Management LLC bought a new position in shares of Berry during the second quarter valued at about $5,636,000. Millennium Management LLC lifted its position in shares of Berry by 2,821.9% during the second quarter. Millennium Management LLC now owns 649,607 shares of the energy company’s stock valued at $4,196,000 after purchasing an additional 627,375 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Berry by 36.9% during 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 purchasing an additional 356,525 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Berry by 1,407.0% during the fourth quarter. Principal Financial Group Inc. now owns 380,967 shares of the energy company’s stock valued at $2,678,000 after purchasing an additional 355,688 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Berry by 23.6% during the second quarter. American Century Companies Inc. now owns 1,664,292 shares of the energy company’s stock valued at $10,751,000 after purchasing an additional 318,223 shares in the last quarter. 94.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Berry 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 transaction, the chief executive officer now directly owns 253,045 shares of the company’s stock, valued at $1,573,939.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Berry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 8.70%. The ex-dividend date was Friday, August 23rd. Berry’s dividend payout ratio is presently 4,800.00%.

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.