Jacobs Levy Equity Management Inc. Decreases Stock Holdings in Berry Co. (NASDAQ:BRY)

Jacobs Levy Equity Management Inc. decreased its position in shares of Berry Co. (NASDAQ:BRY - Free Report) by 56.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 590,604 shares of the energy company's stock after selling 772,289 shares during the period. Jacobs Levy Equity Management Inc. owned 0.77% of Berry worth $3,036,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new stake in Berry in the 2nd quarter worth approximately $25,000. Gladius Capital Management LP purchased a new position in Berry in the 2nd quarter worth $27,000. CWM LLC lifted its position in Berry by 287.4% during the 2nd quarter. CWM LLC now owns 4,560 shares of the energy company's stock worth $29,000 after acquiring an additional 3,383 shares during the period. Meeder Asset Management Inc. grew its stake in Berry by 43.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company's stock valued at $47,000 after purchasing an additional 2,186 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Berry in the second quarter worth about $50,000. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Berry Stock Performance

NASDAQ:BRY traded down $0.24 during mid-day trading on Friday, hitting $3.90. The company's stock had a trading volume of 1,179,643 shares, compared to its average volume of 1,878,763. The business's fifty day moving average is $4.80 and its two-hundred day moving average is $5.73. The stock has a market cap of $300.06 million, a price-to-earnings ratio of 3.61 and a beta of 1.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. Berry Co. has a 1 year low of $3.87 and a 1 year high of $8.88.

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

Berry Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, November 15th. Berry's dividend payout ratio is currently 11.11%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price target 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.