Berry Petroleum Company LLC (NASDAQ:BRY)’s stock price shot up 7.3% on Wednesday . The stock traded as high as $8.22 and last traded at $8.13, 1,034,282 shares were traded during trading. An increase of 25% from the average session volume of 827,253 shares. The stock had previously closed at $7.57.
Several brokerages have weighed in on BRY. Wells Fargo & Co cut Berry Petroleum from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 27th. ValuEngine raised Berry Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research lowered Berry Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. KeyCorp lowered Berry Petroleum from a “sector weight” rating to an “underweight” rating and set a $6.50 target price for the company. in a research report on Tuesday, November 19th. Finally, Tudor Pickering lowered Berry Petroleum from a “buy” rating to a “hold” rating and set a $11.00 target price for the company. in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.81.
The stock has a market capitalization of $645.55 million, a PE ratio of 6.45, a price-to-earnings-growth ratio of 0.39 and a beta of 2.32. The firm has a 50-day moving average price of $9.44 and a 200-day moving average price of $9.71. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40.
In related news, Director Benefit Street Partners Llc sold 1,100,000 shares of Berry Petroleum stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.30, for a total value of $12,430,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne L. Mariucci acquired 13,403 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of $7.47 per share, with a total value of $100,120.41. Following the acquisition, the director now owns 19,772 shares in the company, valued at approximately $147,696.84. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 54,403 shares of company stock valued at $389,270. Insiders own 0.59% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in BRY. Oaktree Capital Management LP increased its holdings in Berry Petroleum by 65.1% in the 2nd quarter. Oaktree Capital Management LP now owns 12,891,717 shares of the energy company’s stock worth $136,653,000 after acquiring an additional 5,085,000 shares during the last quarter. Caymus Capital Partners L.P. purchased a new position in Berry Petroleum during the 3rd quarter valued at about $11,168,000. Keeley Teton Advisors LLC grew its holdings in Berry Petroleum by 295.1% during the 2nd quarter. Keeley Teton Advisors LLC now owns 626,932 shares of the energy company’s stock valued at $6,645,000 after buying an additional 468,236 shares in the last quarter. BlackRock Inc. grew its holdings in Berry Petroleum by 12.7% during the 2nd quarter. BlackRock Inc. now owns 3,565,916 shares of the energy company’s stock valued at $37,798,000 after buying an additional 402,825 shares in the last quarter. Finally, Foundry Partners LLC grew its holdings in Berry Petroleum by 1,831.2% during the 3rd quarter. Foundry Partners LLC now owns 381,892 shares of the energy company’s stock valued at $3,575,000 after buying an additional 362,117 shares in the last quarter. 98.02% of the stock is owned by institutional investors.
About Berry Petroleum (NASDAQ:BRY)
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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