EP Wealth Advisors LLC Invests $106,000 in Berry Co. (NASDAQ:BRY)

EP Wealth Advisors LLC bought a new position in shares of Berry Co. (NASDAQ:BRY) during the third quarter, HoldingsChannel reports. The institutional investor bought 20,636 shares of the energy company’s stock, valued at approximately $106,000.

A number of other hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in shares of Berry in the 2nd quarter worth approximately $25,000. CWM LLC boosted its holdings in Berry by 287.4% during the second quarter. CWM LLC now owns 4,560 shares of the energy company’s stock worth $29,000 after buying an additional 3,383 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of 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. Innealta Capital LLC acquired a new stake in shares of Berry during the 2nd quarter valued at $50,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Berry during the 3rd quarter worth $530,000. 94.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Berry Stock Performance

Shares of BRY opened at $4.13 on Monday. Berry Co. has a one year low of $3.87 and a one year high of $8.88. The company has a 50-day moving average of $4.70 and a two-hundred day moving average of $5.64. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $317.76 million, a price-to-earnings ratio of 3.82 and a beta of 1.67.

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

Berry Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.91%. Berry’s dividend payout ratio is 11.11%.

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.