Summit Global Investments Purchases New Holdings in Berry Co. (NASDAQ:BRY)

Summit Global Investments acquired a new stake in shares of Berry Co. (NASDAQ:BRY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 55,847 shares of the energy company’s stock, valued at approximately $393,000. Summit Global Investments owned approximately 0.07% of Berry at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System purchased a new stake in shares of Berry during the 3rd quarter worth $56,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Berry during the third quarter valued at $66,000. MQS Management LLC purchased a new stake in Berry during the 3rd quarter valued at about $131,000. Mackenzie Financial Corp increased its holdings in Berry by 68.7% in the 3rd quarter. Mackenzie Financial Corp now owns 17,244 shares of the energy company’s stock worth $136,000 after buying an additional 7,022 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Berry by 99.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,483 shares of the energy company’s stock worth $143,000 after acquiring an additional 8,724 shares during the period. Institutional investors own 94.88% of the company’s stock.

Berry Price Performance

BRY stock opened at $8.00 on Monday. Berry Co. has a 1 year low of $6.22 and a 1 year high of $8.94. The firm has a market capitalization of $615.52 million, a PE ratio of 800.00 and a beta of 1.77. The business has a 50 day simple moving average of $7.94 and a 200-day simple moving average of $7.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.60 and a quick ratio of 0.63.

Berry (NASDAQ:BRY) last announced its quarterly earnings results on Wednesday, May 1st. The energy company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). The business had revenue of $202.31 million during the quarter, compared to analyst estimates of $182.65 million. Berry had a net margin of 0.41% and a return on equity of 6.15%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. Equities research analysts anticipate that Berry Co. will post 0.89 earnings per share for the current fiscal year.

Berry Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Wednesday, May 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.48 annualized dividend and a dividend yield of 6.00%. Berry’s dividend payout ratio (DPR) is 4,800.00%.

Wall Street Analysts Forecast Growth

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

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.