Berry Co. (NASDAQ:BRY) Stock Holdings Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in shares of Berry Co. (NASDAQ:BRY) by 34.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 357,725 shares of the energy company’s stock after purchasing an additional 91,642 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Berry were worth $1,839,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. increased its stake in shares of Berry by 228.7% in the second quarter. Harbor Capital Advisors Inc. now owns 190,544 shares of the energy company’s stock worth $1,231,000 after acquiring an additional 132,568 shares during the last quarter. Victory Capital Management Inc. increased its position in Berry by 48.5% in the 3rd quarter. Victory Capital Management Inc. now owns 386,286 shares of the energy company’s stock worth $1,986,000 after purchasing an additional 126,175 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of Berry during the 2nd quarter worth about $5,636,000. Meros Investment Management LP lifted its holdings in shares of Berry by 14.5% during the 2nd quarter. Meros Investment Management LP now owns 1,326,707 shares of the energy company’s stock valued at $8,571,000 after buying an additional 167,718 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Berry in the second quarter worth approximately $1,736,000. Institutional investors and hedge funds own 94.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their target price on shares of Berry from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Monday, November 18th.

Berry Price Performance

Shares of NASDAQ:BRY opened at $3.93 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $302.37 million, a P/E ratio of 3.64 and a beta of 1.72. The business has a 50-day moving average of $4.96 and a two-hundred day moving average of $5.89. Berry Co. has a fifty-two week low of $3.88 and a fifty-two week high of $8.88.

Berry (NASDAQ:BRY) last announced its earnings results on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Berry had a return on equity of 6.50% and a net margin of 9.40%. The company had revenue of $259.80 million for the quarter, compared to the consensus estimate of $186.67 million. During the same period in the previous year, the company earned $0.15 EPS. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, equities research analysts predict that Berry Co. will post 0.6 EPS for the current fiscal year.

Berry Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Friday, November 15th. Berry’s dividend payout ratio is 11.11%.

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.