Los Angeles Capital Management LLC Sells 7,973 Shares of Berry Co. (NASDAQ:BRY)

Los Angeles Capital Management LLC lessened its holdings in Berry Co. (NASDAQ:BRY) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,268 shares of the energy company’s stock after selling 7,973 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.07% of Berry worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in BRY. Advisory Services Network LLC bought a new position in Berry in the 2nd quarter valued at $54,000. Marshall Wace North America L.P. bought a new position in shares of Berry during the 1st quarter worth $63,000. Metropolitan Life Insurance Co NY grew its position in shares of Berry by 49,770.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 9,974 shares of the energy company’s stock worth $67,000 after buying an additional 9,954 shares in the last quarter. PDT Partners LLC bought a new position in shares of Berry during the 2nd quarter worth $69,000. Finally, Paloma Partners Management Co purchased a new stake in Berry in the second quarter valued at about $69,000. 91.83% of the stock is currently owned by institutional investors.

Berry stock opened at $9.50 on Friday. The firm has a market cap of $760.07 million, a price-to-earnings ratio of -8.56 and a beta of 2.81. Berry Co. has a 52 week low of $3.85 and a 52 week high of $10.65. The business’s 50-day moving average price is $8.78 and its 200 day moving average price is $7.47. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

Berry (NASDAQ:BRY) last posted its earnings results on Tuesday, November 2nd. The energy company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The firm had revenue of $143.41 million for the quarter, compared to analyst estimates of $140.63 million. Berry had a positive return on equity of 2.81% and a negative net margin of 22.15%. During the same period last year, the company earned $0.17 earnings per share. Equities analysts expect that Berry Co. will post 0.31 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 17th. Investors of record on Wednesday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Tuesday, December 14th. Berry’s dividend payout ratio (DPR) is -21.62%.

A number of equities research analysts have commented on the company. KeyCorp increased their price target on Berry from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday, October 21st. Piper Sandler raised their price objective on Berry from $6.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, October 21st. Johnson Rice cut Berry from a “buy” rating to an “accumulate” rating in a research note on Monday, October 4th. Finally, Zacks Investment Research cut Berry from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.13.

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.

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Institutional Ownership by Quarter for Berry (NASDAQ:BRY)

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