Hotchkis & Wiley Capital Management LLC lessened its stake in Berry Co. (NASDAQ:BRY - Free Report) by 47.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,334,610 shares of the energy company's stock after selling 3,006,000 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 4.33% of Berry worth $17,140,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Arizona State Retirement System boosted its stake in shares of Berry by 9.3% in the 2nd quarter. Arizona State Retirement System now owns 20,462 shares of the energy company's stock valued at $132,000 after purchasing an additional 1,747 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Berry by 43.5% in 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 in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Berry by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 103,413 shares of the energy company's stock valued at $668,000 after purchasing an additional 2,216 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Berry by 16.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,664 shares of the energy company's stock valued at $175,000 after purchasing an additional 2,999 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in shares of Berry by 14.4% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 94.88% of the company's stock.
Berry Trading Down 3.4 %
BRY traded down $0.14 during trading on Wednesday, hitting $4.03. 1,474,777 shares of the stock traded hands, compared to its average volume of 1,113,477. The firm has a market capitalization of $310.07 million, a P/E ratio of 3.73 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. The firm has a 50-day moving average of $4.84 and a 200 day moving average of $5.78. Berry Co. has a 12-month low of $3.88 and a 12-month high of $8.88.
Berry (NASDAQ:BRY - Get Free Report) last announced its quarterly 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). The firm had revenue of $259.80 million for the quarter, compared to analysts' expectations of $186.67 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. The company's quarterly revenue was up 31.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. Equities research analysts anticipate that Berry Co. will post 0.6 EPS for the current year.
Berry Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were given a dividend of $0.03 per share. The ex-dividend date was Friday, November 15th. This represents a $0.12 annualized dividend and a yield of 2.98%. Berry's payout ratio is currently 11.11%.
Wall Street Analyst Weigh In
Separately, Piper Sandler cut their price objective on shares of Berry from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Monday, November 18th.
View Our Latest Stock Report on Berry
About Berry
(
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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