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

Berry Co. (NASDAQ:BRY - Get Free Report) declared a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.03 per share by the energy company on Monday, November 25th. This represents a $0.12 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, November 15th.

Berry has raised its dividend by an average of 51.8% per year over the last three years. Berry has a dividend payout ratio of 87.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect Berry to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 81.4%.

Berry Stock Down 10.1 %

BRY traded down $0.51 during trading on Friday, reaching $4.55. 2,300,089 shares of the stock were exchanged, compared to its average volume of 1,049,906. Berry has a twelve month low of $4.49 and a twelve month high of $8.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $350.07 million, a P/E ratio of 4.21 and a beta of 1.72. The stock's 50 day moving average price is $5.33 and its two-hundred day moving average price is $6.29.

Berry (NASDAQ:BRY - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The energy company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $259.80 million for the quarter, compared to the consensus estimate of $186.67 million. Berry had a positive return on equity of 6.69% and a negative net margin of 4.19%. The firm's quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. Equities analysts expect that Berry will post 0.63 EPS for the current year.

Insider Buying and Selling

In related news, CEO Fernando Araujo sold 33,950 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $6.22, for a total transaction of $211,169.00. Following the completion of the transaction, the chief executive officer now directly owns 253,045 shares in the company, valued at $1,573,939.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Piper Sandler cut their target price on Berry from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th.

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.