Berry Co. (NASDAQ:BRY) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Berry Co. (NASDAQ:BRY - Free Report) by 48.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 386,286 shares of the energy company's stock after acquiring an additional 126,175 shares during the quarter. Victory Capital Management Inc. owned 0.50% of Berry worth $1,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BRY. HITE Hedge Asset Management LLC acquired a new stake in Berry during the 2nd quarter worth $5,636,000. Millennium Management LLC boosted its holdings in shares of Berry by 2,821.9% in the second quarter. Millennium Management LLC now owns 649,607 shares of the energy company's stock valued at $4,196,000 after acquiring an additional 627,375 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Berry by 36.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,323,216 shares of the energy company's stock valued at $10,652,000 after acquiring an additional 356,525 shares during the period. American Century Companies Inc. boosted its stake in Berry by 23.6% during the 2nd quarter. American Century Companies Inc. now owns 1,664,292 shares of the energy company's stock worth $10,751,000 after purchasing an additional 318,223 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Berry in the second quarter valued at $1,736,000. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Berry Stock Performance

NASDAQ BRY traded down $0.18 during trading hours on Monday, hitting $4.05. 1,198,253 shares of the stock were exchanged, compared to its average volume of 1,079,885. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $5.05 and a 200 day moving average of $5.96. Berry Co. has a 12-month low of $4.01 and a 12-month high of $8.88. The company has a market cap of $311.60 million, a price-to-earnings ratio of 3.75 and a beta of 1.72.

Berry (NASDAQ:BRY - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The energy company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Berry had a net margin of 9.40% and a return on equity of 6.50%. The business had revenue of $259.80 million during the quarter, compared to analysts' expectations of $186.67 million. During the same quarter last year, the firm earned $0.15 earnings per share. The firm's quarterly revenue was up 31.3% compared to the same quarter last year. As a group, equities research analysts forecast that Berry Co. will post 0.6 earnings per share for the current year.

Berry Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 15th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, November 15th. Berry's dividend payout ratio is presently 11.11%.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price target on Berry from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Monday, November 18th.

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.