Berry (NASDAQ:BRY) Price Target Lowered to $5.00 at Piper Sandler

Berry (NASDAQ:BRY) had its price target cut by investment analysts at Piper Sandler from $7.00 to $5.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy company’s stock. Piper Sandler’s price objective would indicate a potential upside of 19.05% from the stock’s previous close.

Berry Stock Down 3.9 %

Shares of BRY stock opened at $4.20 on Monday. The stock’s fifty day moving average price is $5.14 and its 200 day moving average price is $6.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. Berry has a 1-year low of $4.16 and a 1-year high of $8.88. The company has a market cap of $323.15 million, a price-to-earnings ratio of 3.89 and a beta of 1.72.

Berry (NASDAQ:BRY) last posted its quarterly earnings data on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $259.80 million for the quarter, compared to analyst estimates of $186.67 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. The business’s revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, research analysts expect that Berry will post 0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Berry news, CEO Fernando Araujo sold 33,950 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 253,045 shares of the company’s stock, valued at approximately $1,573,939.90. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Berry

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in Berry by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,527,531 shares of the energy company’s stock worth $29,248,000 after purchasing an additional 219,468 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Berry by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 4,359,786 shares of the energy company’s stock valued at $35,096,000 after acquiring an additional 77,487 shares during the period. State Street Corp grew its holdings in Berry by 0.8% in the third quarter. State Street Corp now owns 3,001,229 shares of the energy company’s stock valued at $15,426,000 after purchasing an additional 25,108 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Berry by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,693,611 shares of the energy company’s stock worth $13,845,000 after acquiring an additional 37,904 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Berry by 10.2% during the third quarter. Geode Capital Management LLC now owns 1,903,951 shares of the energy company’s stock worth $9,788,000 after purchasing an additional 176,280 shares in the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.

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.