Berry Co. (NASDAQ:BRY – Get Free Report) announced a quarterly dividend on Wednesday, May 1st, NASDAQ reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.12 per share by the energy company on Friday, May 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date is Tuesday, May 14th.
Berry has increased its dividend payment by an average of 51.8% per year over the last three years and has increased its dividend every year for the last 1 years. Berry has a dividend payout ratio of 49.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Berry to earn $0.97 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 49.5%.
Berry Trading Down 3.5 %
Shares of NASDAQ BRY opened at $7.45 on Friday. The stock has a market capitalization of $573.20 million, a P/E ratio of 745.00 and a beta of 1.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.60 and a quick ratio of 0.60. The business’s 50 day moving average is $8.00 and its two-hundred day moving average is $7.36. Berry has a 1-year low of $6.22 and a 1-year high of $8.94.
Analysts Set New Price Targets
Separately, TheStreet upgraded Berry from a “c” rating to a “b-” rating in a research report on Friday, March 8th.
Get Our Latest Stock Report on Berry
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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