Q4 EPS Estimates for Berry Lowered by Capital One Financial

Berry Co. (NASDAQ:BRY) – Stock analysts at Capital One Financial lowered their Q4 2024 earnings per share (EPS) estimates for Berry in a research note issued to investors on Monday, November 18th. Capital One Financial analyst B. Velie now anticipates that the energy company will post earnings per share of $0.11 for the quarter, down from their prior estimate of $0.22. The consensus estimate for Berry’s current full-year earnings is $0.60 per share. Capital One Financial also issued estimates for Berry’s FY2025 earnings at $0.60 EPS and FY2026 earnings at $0.45 EPS.

Berry (NASDAQ:BRY) last released its earnings results on Thursday, November 7th. The energy company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $259.80 million for the quarter, compared to the consensus estimate of $186.67 million. Berry had a return on equity of 6.50% and a net margin of 9.40%. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share.

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

Berry Stock Performance

Shares of BRY stock opened at $4.23 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $325.46 million, a price-to-earnings ratio of 3.94 and a beta of 1.72. Berry has a 52 week low of $4.10 and a 52 week high of $8.88. The firm’s 50-day simple moving average is $5.08 and its two-hundred day simple moving average is $6.01.

Institutional Investors Weigh In On Berry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in shares of Berry in the second quarter worth about $25,000. Gladius Capital Management LP bought a new position in Berry in the 2nd quarter worth about $27,000. CWM LLC raised its holdings in shares of Berry by 287.4% in the 2nd quarter. CWM LLC now owns 4,560 shares of the energy company’s stock valued at $29,000 after acquiring an additional 3,383 shares in the last quarter. Meeder Asset Management Inc. raised 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 purchasing an additional 2,186 shares in the last quarter. Finally, McIlrath & Eck LLC purchased a new stake in shares of Berry during the 3rd quarter valued at $47,000. 94.88% of the stock is currently owned by institutional investors.

Berry Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 15th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Friday, November 15th. Berry’s dividend payout ratio (DPR) 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.