Berry (NASDAQ:BRY) Issues Earnings Results, Beats Expectations By $0.09 EPS

Berry (NASDAQ:BRY) issued its quarterly earnings results on Wednesday. The energy company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09, Zacks reports. The business had revenue of $167.06 million for the quarter, compared to the consensus estimate of $173.00 million. Berry had a return on equity of 6.50% and a net margin of 9.40%.

Berry Trading Down 11.5 %

Shares of Berry stock opened at $3.22 on Friday. The firm has a market capitalization of $247.74 million, a PE ratio of 2.98 and a beta of 1.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average is $4.31 and its 200 day moving average is $4.66. Berry has a 1 year low of $3.16 and a 1 year high of $8.88.

Berry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 22nd will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 3.73%. The ex-dividend date is Friday, March 21st. Berry’s dividend payout ratio (DPR) is presently 11.11%.

Wall Street Analysts Forecast Growth

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

Berry Company 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.