Mackenzie Financial Corp Cuts Stake in Berry Co. (NASDAQ:BRY)

Mackenzie Financial Corp lessened its stake in shares of Berry Co. (NASDAQ:BRY) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,968 shares of the energy company’s stock after selling 2,276 shares during the period. Mackenzie Financial Corp’s holdings in Berry were worth $105,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BRY. Allspring Global Investments Holdings LLC grew its stake in shares of Berry by 0.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,662,316 shares of the energy company’s stock worth $21,831,000 after acquiring an additional 7,404 shares during the period. South Dakota Investment Council lifted its holdings in Berry by 251.0% during the third quarter. South Dakota Investment Council now owns 1,382,476 shares of the energy company’s stock valued at $11,336,000 after purchasing an additional 988,653 shares during the last quarter. Heartland Advisors Inc. boosted its position in Berry by 0.4% during the third quarter. Heartland Advisors Inc. now owns 1,137,100 shares of the energy company’s stock worth $9,324,000 after purchasing an additional 4,500 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Berry by 64.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,085,554 shares of the energy company’s stock worth $8,902,000 after purchasing an additional 425,293 shares in the last quarter. Finally, Meros Investment Management LP raised its position in shares of Berry by 2.7% in the third quarter. Meros Investment Management LP now owns 1,069,608 shares of the energy company’s stock valued at $8,771,000 after purchasing an additional 28,355 shares during the period. Institutional investors own 94.88% of the company’s stock.

Berry Stock Performance

Shares of BRY opened at $8.79 on Tuesday. Berry Co. has a 52-week low of $6.22 and a 52-week high of $8.94. The stock’s 50-day simple moving average is $7.85 and its 200 day simple moving average is $7.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $676.30 million, a price-to-earnings ratio of 19.11 and a beta of 1.80.

Berry (NASDAQ:BRY) last released its quarterly earnings data on Wednesday, March 6th. The energy company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.12). The firm had revenue of $216.40 million during the quarter, compared to the consensus estimate of $190.28 million. Berry had a net margin of 4.14% and a return on equity of 5.27%. Berry’s revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 earnings per share. Research analysts forecast that Berry Co. will post 0.89 EPS for the current fiscal year.

Berry Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 15th were paid a dividend of $0.26 per share. This is a positive change from Berry’s previous None dividend of $0.21. The ex-dividend date was Thursday, March 14th. This represents a yield of 6.7%. Berry’s dividend payout ratio (DPR) is currently 104.35%.

Analysts Set New Price Targets

Separately, TheStreet raised shares of Berry from a “c” rating to a “b-” rating in a report on Friday, March 8th.

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.