MetLife Investment Management LLC Sells 4,747 Shares of Berry Co. (NASDAQ:BRY)

MetLife Investment Management LLC lowered its position in shares of Berry Co. (NASDAQ:BRY) by 10.1% during the third quarter, Holdings Channel.com reports. The firm owned 42,042 shares of the energy company’s stock after selling 4,747 shares during the quarter. MetLife Investment Management LLC’s holdings in Berry were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in shares of Berry by 78.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 35,769 shares of the energy company’s stock worth $184,000 after purchasing an additional 15,753 shares in the last quarter. FMR LLC increased its stake in 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 acquiring an additional 5,115 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Berry in the 3rd quarter valued at $264,000. Charles Schwab Investment Management Inc. lifted its position in shares of Berry by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,452,032 shares of the energy company’s stock valued at $7,463,000 after acquiring an additional 91,254 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Berry by 34.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 357,725 shares of the energy company’s stock worth $1,839,000 after purchasing an additional 91,642 shares in the last quarter. 94.88% of the stock is owned by institutional investors and hedge funds.

Berry Stock Down 5.8 %

Shares of BRY opened at $3.90 on Monday. The firm has a 50 day simple moving average of $4.80 and a two-hundred day simple moving average of $5.73. The company has a market cap of $300.06 million, a P/E ratio of 3.61 and a beta of 1.67. Berry Co. has a one year low of $3.87 and a one year high of $8.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80.

Berry (NASDAQ:BRY) last released its earnings results on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business 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 quarter in the prior year, the firm earned $0.15 EPS. Research analysts forecast that Berry Co. will post 0.6 EPS for the current fiscal year.

Berry Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.12 annualized dividend and a dividend yield of 3.08%. Berry’s payout ratio is 11.11%.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut 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, November 18th.

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.