Martingale Asset Management L P Cuts Position in Berry Co. (NASDAQ:BRY)

Martingale Asset Management L P lowered its position in Berry Co. (NASDAQ:BRY) by 18.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,405 shares of the energy company’s stock after selling 30,937 shares during the period. Martingale Asset Management L P owned approximately 0.18% of Berry worth $717,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BRY. Dimensional Fund Advisors LP lifted its stake in shares of Berry by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,527,531 shares of the energy company’s stock worth $29,248,000 after buying an additional 219,468 shares during the period. Vanguard Group Inc. boosted its position in Berry by 1.8% in the first quarter. Vanguard Group Inc. now owns 4,359,786 shares of the energy company’s stock valued at $35,096,000 after buying an additional 77,487 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Berry by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,693,611 shares of the energy company’s stock valued at $13,845,000 after buying an additional 37,904 shares during the period. LSV Asset Management boosted its position in Berry by 11.0% in the 2nd quarter. LSV Asset Management now owns 1,696,400 shares of the energy company’s stock worth $10,959,000 after purchasing an additional 167,537 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Berry by 23.6% during the second quarter. American Century Companies Inc. now owns 1,664,292 shares of the energy company’s stock worth $10,751,000 after buying an additional 318,223 shares in the last quarter. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Berry Stock Up 1.0 %

BRY stock opened at $4.12 on Tuesday. Berry Co. has a 52 week low of $3.88 and a 52 week high of $8.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $4.88 and a 200-day simple moving average of $5.81. The stock has a market capitalization of $316.99 million, a P/E ratio of 3.81 and a beta of 1.72.

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

Berry Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Friday, November 15th. Berry’s dividend payout ratio (DPR) is currently 11.11%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price objective on Berry from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Monday, November 18th.

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.