BNP Paribas Financial Markets Grows Holdings in Berry Co. (NASDAQ:BRY)

BNP Paribas Financial Markets lifted its position in shares of Berry Co. (NASDAQ:BRY) by 78.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,769 shares of the energy company’s stock after acquiring an additional 15,753 shares during the quarter. BNP Paribas Financial Markets’ holdings in Berry were worth $184,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. FMR LLC grew its stake in Berry by 40.9% in the 3rd quarter. FMR LLC now owns 17,606 shares of the energy company’s stock valued at $90,000 after acquiring an additional 5,115 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Berry during the third quarter valued at $264,000. Charles Schwab Investment Management Inc. grew its position in shares of Berry by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,452,032 shares of the energy company’s stock valued at $7,463,000 after purchasing an additional 91,254 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Berry by 34.4% during the third 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. Finally, Intech Investment Management LLC acquired a new position in shares of Berry during the 3rd quarter worth about $126,000. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Berry Trading Up 1.2 %

Shares of BRY stock opened at $4.15 on Wednesday. The firm has a market capitalization of $319.30 million, a P/E ratio of 3.80 and a beta of 1.67. Berry Co. has a fifty-two week low of $3.87 and a fifty-two week high of $8.88. The stock’s fifty day moving average is $4.67 and its two-hundred day moving average is $5.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80.

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

Berry Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.89%. Berry’s dividend payout ratio is currently 11.11%.

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.