Berry Petroleum Company LLC (NASDAQ:BRY) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,430,000 shares, an increase of 15.7% from the December 15th total of 2,100,000 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average daily volume of 909,300 shares, the short-interest ratio is currently 2.7 days.
In related news, Director Anne L. Mariucci purchased 13,403 shares of Berry Petroleum stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $7.47 per share, with a total value of $100,120.41. Following the acquisition, the director now directly owns 19,772 shares in the company, valued at $147,696.84. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Benefit Street Partners Llc sold 1,100,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.30, for a total transaction of $12,430,000.00. The disclosure for this sale can be found here. Over the last three months, insiders acquired 54,403 shares of company stock valued at $389,270 and sold 1,481,871 shares valued at $15,675,892. 0.59% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in BRY. Marshall Wace North America L.P. acquired a new stake in shares of Berry Petroleum during the 1st quarter worth about $63,000. Bank of Montreal Can increased its position in shares of Berry Petroleum by 496.1% during the 2nd quarter. Bank of Montreal Can now owns 6,122 shares of the energy company’s stock worth $65,000 after purchasing an additional 5,095 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Berry Petroleum during the 2nd quarter worth about $66,000. Fox Run Management L.L.C. acquired a new stake in shares of Berry Petroleum during the 3rd quarter worth about $97,000. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Berry Petroleum during the 2nd quarter worth about $132,000. Institutional investors and hedge funds own 97.99% of the company’s stock.
Shares of BRY stock opened at $8.55 on Tuesday. Berry Petroleum has a 52-week low of $6.87 and a 52-week high of $13.29. The stock has a market cap of $716.02 million, a price-to-earnings ratio of 6.50, a P/E/G ratio of 0.43 and a beta of 2.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average of $8.83 and a 200-day moving average of $9.38.
Berry Petroleum (NASDAQ:BRY) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Berry Petroleum had a net margin of 25.26% and a return on equity of 11.49%. The company had revenue of $194.67 million during the quarter, compared to analysts’ expectations of $160.70 million. On average, sell-side analysts predict that Berry Petroleum will post 1.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date is Thursday, December 12th. Berry Petroleum’s dividend payout ratio (DPR) is currently 38.10%.
A number of brokerages have recently issued reports on BRY. Tudor Pickering cut shares of Berry Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a research note on Wednesday, November 20th. KeyCorp cut shares of Berry Petroleum from a “sector weight” rating to an “underweight” rating and set a $6.50 price objective for the company. in a research note on Tuesday, November 19th. Zacks Investment Research cut shares of Berry Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Evercore ISI began coverage on shares of Berry Petroleum in a research note on Wednesday, November 20th. They issued a “hold” rating and a $12.00 price objective for the company. Finally, Johnson Rice cut shares of Berry Petroleum from a “buy” rating to an “accumulate” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $11.06.
About Berry Petroleum
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.
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