Allspring Global Investments Holdings LLC Boosts Holdings in Berry Co. (NASDAQ:BRY)

Allspring Global Investments Holdings LLC raised its holdings in shares of Berry Co. (NASDAQ:BRY) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,693,611 shares of the energy company’s stock after buying an additional 37,904 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Berry were worth $13,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BRY. HITE Hedge Asset Management LLC bought a new position in shares of Berry during the 2nd quarter valued at approximately $5,636,000. Millennium Management LLC increased its stake in shares of Berry by 2,821.9% in the second quarter. Millennium Management LLC now owns 649,607 shares of the energy company’s stock worth $4,196,000 after purchasing an additional 627,375 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Berry by 36.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,323,216 shares of the energy company’s stock valued at $10,652,000 after purchasing an additional 356,525 shares during the period. American Century Companies Inc. lifted its stake in shares of Berry by 23.6% during the 2nd quarter. American Century Companies Inc. now owns 1,664,292 shares of the energy company’s stock valued at $10,751,000 after buying an additional 318,223 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Berry in the 2nd quarter worth $1,736,000. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price objective on Berry from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th.

Berry Trading Up 0.4 %

Shares of BRY opened at $5.17 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The company has a 50 day simple moving average of $5.53 and a two-hundred day simple moving average of $6.50. Berry Co. has a 1 year low of $4.82 and a 1 year high of $8.88. The firm has a market cap of $397.77 million, a P/E ratio of 517.00 and a beta of 1.72.

Berry (NASDAQ:BRY) last released its quarterly earnings data on Friday, August 9th. The energy company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $197.80 million for the quarter, compared to the consensus estimate of $187.38 million. Berry had a negative net margin of 4.19% and a positive return on equity of 6.69%. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period last year, the company earned $0.15 EPS. On average, equities analysts expect that Berry Co. will post 0.63 earnings per share for the current fiscal year.

Berry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.12 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.48 annualized dividend and a dividend yield of 9.28%. Berry’s dividend payout ratio (DPR) is 4,800.00%.

Insider Activity

In other Berry 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 value of $211,169.00. Following the completion of the transaction, the chief executive officer now directly owns 253,045 shares of the company’s stock, valued at $1,573,939.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

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.