Berry Co. (NASDAQ:BRY) to Issue $0.03 Quarterly Dividend

Berry Co. (NASDAQ:BRY - Get Free Report) announced a quarterly dividend on Tuesday, March 11th, Wall Street Journal reports. Shareholders of record on Saturday, March 22nd will be paid a dividend of 0.03 per share by the energy company on Tuesday, April 1st. This represents a $0.12 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Friday, March 21st.

Berry has increased its dividend payment by an average of 17.0% per year over the last three years. Berry has a dividend payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Berry to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 19.7%.

Berry Stock Performance

Shares of NASDAQ:BRY traded down $0.04 on Monday, hitting $3.34. 974,077 shares of the company were exchanged, compared to its average volume of 957,337. The firm has a market capitalization of $256.98 million, a P/E ratio of 3.09 and a beta of 1.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. Berry has a 1-year low of $3.06 and a 1-year high of $8.88. The stock's 50 day moving average price is $4.29 and its 200 day moving average price is $4.62.

Berry (NASDAQ:BRY - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The energy company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.09. Berry had a return on equity of 6.50% and a net margin of 9.40%. The business had revenue of $167.06 million for the quarter, compared to the consensus estimate of $173.00 million. Sell-side analysts predict that Berry will post 0.58 EPS for the current year.

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Analyst Ratings Changes

Separately, Piper Sandler decreased their target price on shares of Berry from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Monday, November 18th.

Berry Company 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.