Huber Capital Management LLC Has $1.02 Million Holdings in Berry Co. (NASDAQ:BRY)

Huber Capital Management LLC reduced its position in Berry Co. (NASDAQ:BRY) by 27.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 157,460 shares of the energy company’s stock after selling 59,800 shares during the quarter. Huber Capital Management LLC’s holdings in Berry were worth $1,017,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BRY. Sei Investments Co. increased its stake in Berry by 15.1% in the second quarter. Sei Investments Co. now owns 120,396 shares of the energy company’s stock valued at $778,000 after acquiring an additional 15,770 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Berry by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,527,531 shares of the energy company’s stock valued at $29,248,000 after purchasing an additional 219,468 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Berry during the 2nd quarter worth $1,719,000. Federated Hermes Inc. bought a new stake in shares of Berry during the 2nd quarter worth $25,000. Finally, Meeder Asset Management Inc. boosted its stake in Berry by 43.5% in the second quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock valued at $47,000 after buying an additional 2,186 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Berry

In other news, CEO Fernando Araujo sold 33,950 shares of Berry stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $6.22, for a total transaction of $211,169.00. Following the transaction, the chief executive officer now owns 253,045 shares in the company, valued at $1,573,939.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Berry Stock Performance

Shares of Berry stock opened at $5.41 on Friday. The company’s 50 day moving average price is $6.15 and its two-hundred day moving average price is $6.93. The firm has a market capitalization of $416.24 million, a P/E ratio of 541.00 and a beta of 1.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. Berry Co. has a fifty-two week low of $5.09 and a fifty-two week high of $8.91.

Berry (NASDAQ:BRY) last issued its earnings results on Friday, August 9th. The energy company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $187.38 million. During the same period in the previous year, the company earned $0.15 EPS. Berry’s revenue for the quarter was down 13.8% on a year-over-year basis. On average, equities analysts forecast that Berry Co. will post 0.61 earnings per share for the current fiscal year.

Berry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 8.87%. The ex-dividend date of this dividend was Friday, August 23rd. Berry’s payout ratio is 4,800.00%.

Wall Street Analyst Weigh In

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 research note 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.