Williams & Novak LLC Invests $58,000 in Berry Corporation $BRY

Williams & Novak LLC acquired a new position in shares of Berry Corporation (NASDAQ:BRY) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 21,110 shares of the energy company’s stock, valued at approximately $58,000.

Several other large investors have also modified their holdings of BRY. Vanguard Group Inc. boosted its stake in shares of Berry by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 6,699,963 shares of the energy company’s stock worth $21,507,000 after acquiring an additional 719,845 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Berry by 82.8% in the first quarter. Acadian Asset Management LLC now owns 1,164,123 shares of the energy company’s stock worth $3,731,000 after buying an additional 527,463 shares during the period. AQR Capital Management LLC boosted its position in shares of Berry by 46.6% in the first quarter. AQR Capital Management LLC now owns 1,396,710 shares of the energy company’s stock worth $4,483,000 after buying an additional 444,155 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Berry by 22.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,543,544 shares of the energy company’s stock worth $4,955,000 after buying an additional 283,940 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Berry in the first quarter worth $898,000. 94.88% of the stock is owned by institutional investors.

Berry Price Performance

BRY opened at $3.48 on Friday. The stock has a market cap of $270.05 million, a price-to-earnings ratio of 49.71 and a beta of 1.20. Berry Corporation has a 1 year low of $2.11 and a 1 year high of $5.90. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average price of $3.38 and a 200 day moving average price of $3.00.

Berry (NASDAQ:BRY) last released its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.65. The firm had revenue of $210.08 million during the quarter, compared to analysts’ expectations of $155.00 million. Berry had a return on equity of 5.27% and a net margin of 0.60%. Analysts forecast that Berry Corporation will post 0.58 EPS for the current fiscal year.

Berry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, August 18th. Berry’s dividend payout ratio (DPR) is 171.43%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings cut Berry from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. Johnson Rice cut Berry from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Tuesday, September 16th. Wall Street Zen cut Berry from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Piper Sandler decreased their target price on Berry from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $4.00.

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.