Foundry Partners LLC Sells 149,706 Shares of Berry Co. (NASDAQ:BRY)

Foundry Partners LLC trimmed its holdings in shares of Berry Co. (NASDAQ:BRY - Free Report) by 16.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 756,064 shares of the energy company's stock after selling 149,706 shares during the period. Foundry Partners LLC owned 0.98% of Berry worth $3,886,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BRY. Russell Investments Group Ltd. increased its holdings in shares of Berry by 29.8% in the 1st quarter. Russell Investments Group Ltd. now owns 83,338 shares of the energy company's stock worth $671,000 after acquiring an additional 19,127 shares during the period. Vanguard Group Inc. boosted its position in shares of Berry by 1.8% during the first quarter. Vanguard Group Inc. now owns 4,359,786 shares of the energy company's stock worth $35,096,000 after buying an additional 77,487 shares during the period. Quadrature Capital Ltd increased its position in Berry by 83.8% in the 1st quarter. Quadrature Capital Ltd now owns 27,508 shares of the energy company's stock valued at $221,000 after acquiring an additional 12,539 shares during the period. Lazard Asset Management LLC raised its stake in Berry by 123.7% during the 1st quarter. Lazard Asset Management LLC now owns 17,383 shares of the energy company's stock valued at $139,000 after acquiring an additional 9,612 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake 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 purchasing an additional 2,999 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Berry Trading Down 0.7 %

Berry stock traded down $0.03 during mid-day trading on Friday, hitting $4.23. The stock had a trading volume of 1,851,831 shares, compared to its average volume of 1,079,358. 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 Co. has a 12 month low of $4.10 and a 12 month high of $8.88. The stock has a market capitalization of $325.46 million, a PE ratio of 3.94 and a beta of 1.72. The stock has a 50-day simple moving average of $5.08 and a two-hundred day simple moving average of $6.01.

Berry (NASDAQ:BRY - Get Free Report) last released its quarterly 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 business had revenue of $259.80 million for the quarter, compared to analyst estimates of $186.67 million. During the same period in the prior year, the business earned $0.15 EPS. The company's revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Berry Co. will post 0.6 EPS for the current year.

Berry Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, November 15th. Berry's dividend payout ratio (DPR) is presently 11.11%.

About Berry

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.