Berry Co. (NASDAQ:BRY - Free Report) - Equities researchers at Capital One Financial reduced their Q4 2024 EPS estimates for shares of Berry in a research note issued on Monday, November 18th. Capital One Financial analyst B. Velie now forecasts that the energy company will earn $0.11 per share for the quarter, down from their prior forecast of $0.22. The consensus estimate for Berry's current full-year earnings is $0.61 per share. Capital One Financial also issued estimates for Berry's FY2025 earnings at $0.60 EPS and FY2026 earnings at $0.45 EPS.
Berry (NASDAQ:BRY - Get Free Report) last announced its earnings results 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). Berry had a net margin of 9.40% and a return on equity of 6.50%. The firm had revenue of $259.80 million for the quarter, compared to the consensus estimate of $186.67 million. During the same period in the prior year, the business earned $0.15 EPS. The company's quarterly revenue was up 31.3% compared to the same quarter last year.
Separately, Piper Sandler cut their price objective on Berry from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Monday.
Check Out Our Latest Stock Report on Berry
Berry Stock Down 0.2 %
NASDAQ BRY opened at $4.19 on Thursday. The company has a market capitalization of $322.37 million, a P/E ratio of 3.88 and a beta of 1.72. Berry has a 12 month low of $4.10 and a 12 month high of $8.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The company's 50 day simple moving average is $5.12 and its 200 day simple moving average is $6.03.
Hedge Funds Weigh In On Berry
A number of large investors have recently made changes to their positions in the business. Arizona State Retirement System lifted its stake in Berry by 9.3% in the second quarter. Arizona State Retirement System now owns 20,462 shares of the energy company's stock valued at $132,000 after acquiring an additional 1,747 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Berry by 43.5% in the second quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company's stock worth $47,000 after purchasing an additional 2,186 shares in the last quarter. SummerHaven Investment Management LLC increased its position in Berry by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 103,413 shares of the energy company's stock worth $668,000 after buying an additional 2,216 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Berry by 16.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,664 shares of the energy company's stock worth $175,000 after buying an additional 2,999 shares during the last quarter. Finally, Diversified Trust Co raised its position in shares of Berry by 14.4% in the second quarter. Diversified Trust Co now owns 24,615 shares of the energy company's stock valued at $159,000 after purchasing an additional 3,101 shares during the period. Institutional investors and hedge funds own 94.88% of the company's stock.
Insider Transactions at Berry
In other news, CEO Fernando Araujo sold 33,950 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $6.22, for a total value of $211,169.00. Following the completion of the sale, the chief executive officer now owns 253,045 shares of the company's stock, valued at $1,573,939.90. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.
Berry Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, November 15th. Berry's dividend payout ratio is presently 11.11%.
About Berry
(
Get Free Report)
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.
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