Renaissance Technologies LLC Lowers Position in Berry Co. (NASDAQ:BRY)

Renaissance Technologies LLC cut its position in shares of Berry Co. (NASDAQ:BRY - Free Report) by 56.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,600 shares of the energy company's stock after selling 103,800 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of Berry worth $527,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in Berry during the second quarter valued at approximately $25,000. Gladius Capital Management LP bought a new position in Berry during the second quarter valued at $27,000. CWM LLC lifted its holdings in shares of Berry by 287.4% in 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 last quarter. Viking Fund Management LLC purchased a new stake in Berry in the 1st quarter worth about $40,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Berry by 43.5% during the second quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company's stock valued at $47,000 after buying an additional 2,186 shares during the last quarter. Institutional investors own 94.88% of the company's stock.

Berry Stock Up 0.4 %

Shares of BRY stock traded up $0.02 during mid-day trading on Thursday, hitting $5.42. The stock had a trading volume of 582,279 shares, compared to its average volume of 1,048,901. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The firm's 50-day moving average is $5.72 and its two-hundred day moving average is $6.72. The firm has a market capitalization of $417.01 million, a P/E ratio of 542.00 and a beta of 1.72. Berry Co. has a 12-month low of $4.82 and a 12-month high of $8.91.

Berry (NASDAQ:BRY - Get Free Report) last issued its quarterly earnings data on Friday, August 9th. The energy company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Berry had a negative net margin of 4.19% and a positive return on equity of 6.69%. The business had revenue of $197.80 million for the quarter, compared to analysts' expectations of $187.38 million. During the same period in the previous year, the business earned $0.15 earnings per share. The business's quarterly revenue was down 13.8% compared to the same quarter last year. On average, analysts predict that Berry Co. will post 0.59 earnings per share for the current fiscal year.

Berry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.86%. The ex-dividend date was Friday, August 23rd. Berry's payout ratio is currently 4,800.00%.

Insider Buying and Selling at Berry

In other Berry news, CEO Fernando Araujo sold 33,950 shares of the stock in a transaction dated 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 directly owns 253,045 shares in the company, valued at approximately $1,573,939.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Piper Sandler decreased their target price on Berry from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, August 15th.

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.