Assenagon Asset Management S.A. Makes New $990,000 Investment in Berry Co. (NASDAQ:BRY)

Assenagon Asset Management S.A. purchased a new position in Berry Co. (NASDAQ:BRY - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 192,657 shares of the energy company's stock, valued at approximately $990,000. Assenagon Asset Management S.A. owned approximately 0.25% of Berry at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its stake in shares of Berry by 228.7% during the second quarter. Harbor Capital Advisors Inc. now owns 190,544 shares of the energy company's stock valued at $1,231,000 after buying an additional 132,568 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Berry by 36.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,323,216 shares of the energy company's stock worth $10,652,000 after purchasing an additional 356,525 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in Berry in the second quarter worth approximately $5,636,000. Meros Investment Management LP grew its stake in Berry by 14.5% in the second quarter. Meros Investment Management LP now owns 1,326,707 shares of the energy company's stock worth $8,571,000 after purchasing an additional 167,718 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Berry in the second quarter worth approximately $1,736,000. Hedge funds and other institutional investors own 94.88% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their price objective on Berry from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th.

Insiders Place Their Bets

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 transaction of $211,169.00. Following the sale, the chief executive officer now directly owns 253,045 shares of the company's stock, valued at approximately $1,573,939.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by insiders.

Berry Stock Up 1.4 %

Shares of BRY traded up $0.07 during midday trading on Friday, hitting $5.09. 1,904,087 shares of the company's stock traded hands, compared to its average volume of 939,097. Berry Co. has a 1 year low of $4.82 and a 1 year high of $8.88. The firm's fifty day moving average is $5.40 and its 200-day moving average is $6.35. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $391.62 million, a price-to-earnings ratio of -11.84 and a beta of 1.72.

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

Berry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 9.43%. The ex-dividend date of this dividend was Friday, August 23rd. Berry's dividend payout ratio is currently -111.63%.

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.