Los Angeles Capital Management LLC Sells 35,590 Shares of Berry Co. (NASDAQ:BRY)

Los Angeles Capital Management LLC trimmed its stake in shares of Berry Co. (NASDAQ:BRY) by 13.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,127 shares of the energy company’s stock after selling 35,590 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.30% of Berry worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of BRY. Arizona State Retirement System grew its stake in shares of Berry by 9.3% in the second quarter. Arizona State Retirement System now owns 20,462 shares of the energy company’s stock worth $132,000 after purchasing an additional 1,747 shares during the last quarter. Meeder Asset Management Inc. raised its holdings 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 acquiring an additional 2,186 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Berry by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 103,413 shares of the energy company’s stock worth $668,000 after acquiring an additional 2,216 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Berry by 16.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,664 shares of the energy company’s stock valued at $175,000 after acquiring an additional 2,999 shares in the last quarter. Finally, Diversified Trust Co increased its position in Berry by 14.4% during the 2nd quarter. Diversified Trust Co now owns 24,615 shares of the energy company’s stock valued at $159,000 after purchasing an additional 3,101 shares during the period. 94.88% of the stock is owned by hedge funds and other institutional investors.

Berry Trading Up 3.2 %

BRY opened at $4.47 on Friday. The stock has a market cap of $343.92 million, a PE ratio of 3.96 and a beta of 1.72. The business has a 50 day moving average of $5.20 and a 200-day moving average of $6.16. Berry Co. has a 52 week low of $4.16 and a 52 week high of $8.88. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.54.

Berry (NASDAQ:BRY) last announced its earnings results on Thursday, November 7th. The energy company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $259.80 million for the quarter, compared to the consensus estimate of $186.67 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. The business’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. Equities research analysts predict that Berry Co. will post 0.61 earnings per share for the current fiscal year.

Berry Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Friday, November 15th. Berry’s dividend payout ratio is 44.44%.

Analyst Ratings Changes

Separately, Piper Sandler cut their target price on shares of Berry from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th.

Insider Activity

In related 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 transaction, the chief executive officer now owns 253,045 shares in the company, valued at $1,573,939.90. The trade was a 11.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Berry 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.