Berry Co. (NASDAQ:BRY) Shares Purchased by Millennium Management LLC

Millennium Management LLC increased its position in Berry Co. (NASDAQ:BRY - Free Report) by 2,821.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 649,607 shares of the energy company's stock after purchasing an additional 627,375 shares during the period. Millennium Management LLC owned 0.84% of Berry worth $4,196,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in shares of Berry in the fourth quarter valued at about $105,000. Viking Fund Management LLC acquired a new position in shares of Berry in the first quarter valued at approximately $40,000. Diversified Trust Co lifted its holdings in shares of Berry by 7.2% during the first quarter. Diversified Trust Co now owns 21,514 shares of the energy company's stock worth $173,000 after purchasing an additional 1,450 shares during the period. Empowered Funds LLC grew its position in Berry by 8.2% in the 1st quarter. Empowered Funds LLC now owns 341,854 shares of the energy company's stock valued at $2,752,000 after buying an additional 25,867 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Berry by 29.8% during the 1st quarter. Russell Investments Group Ltd. now owns 83,338 shares of the energy company's stock worth $671,000 after buying an additional 19,127 shares during the last quarter. Hedge funds and other institutional investors own 94.88% of the company's stock.

Berry Stock Performance

NASDAQ:BRY remained flat at $5.42 during trading hours on Friday. The company's stock had a trading volume of 720,640 shares, compared to its average volume of 1,047,234. 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 1 year low of $4.82 and a 1 year high of $8.91. The company has a 50-day moving average price of $5.71 and a 200-day moving average price of $6.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62.

Berry (NASDAQ:BRY - Get Free Report) last issued its earnings results on Friday, August 9th. The energy company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $197.80 million for the quarter, compared to analyst estimates of $187.38 million. Berry had a positive return on equity of 6.69% and a negative net margin of 4.19%. The company's quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. As a group, analysts predict that Berry Co. will post 0.63 EPS for the current fiscal year.

Berry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 8.86%. The ex-dividend date was Friday, August 23rd. Berry's dividend payout ratio (DPR) is 4,800.00%.

Analyst Ratings Changes

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

Insider Activity

In other Berry news, CEO Fernando Araujo sold 33,950 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $6.22, for a total value of $211,169.00. Following the sale, the chief executive officer now owns 253,045 shares of the company's stock, valued at $1,573,939.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.

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.