AXQ Capital LP Makes New Investment in Berry Co. (NASDAQ:BRY)

AXQ Capital LP purchased a new stake in shares of Berry Co. (NASDAQ:BRY) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 15,800 shares of the energy company’s stock, valued at approximately $65,000.

Several other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in Berry by 0.8% during the third quarter. State Street Corp now owns 3,001,229 shares of the energy company’s stock worth $15,426,000 after purchasing an additional 25,108 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Berry by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,729,339 shares of the energy company’s stock worth $11,682,000 after buying an additional 35,728 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Berry by 11.4% in the 4th quarter. American Century Companies Inc. now owns 2,101,825 shares of the energy company’s stock worth $8,681,000 after buying an additional 214,580 shares in the last quarter. South Dakota Investment Council grew its stake in Berry by 66.4% in the 4th quarter. South Dakota Investment Council now owns 1,958,864 shares of the energy company’s stock valued at $8,090,000 after acquiring an additional 781,562 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Berry by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,903,951 shares of the energy company’s stock valued at $9,788,000 after acquiring an additional 176,280 shares in the last quarter. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Berry Stock Performance

Shares of BRY opened at $3.29 on Tuesday. The company has a 50-day moving average of $4.15 and a two-hundred day moving average of $4.51. The stock has a market cap of $254.04 million, a P/E ratio of 3.05 and a beta of 1.67. Berry Co. has a 12-month low of $3.06 and a 12-month high of $8.88. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54.

Berry (NASDAQ:BRY) last posted its earnings results on Wednesday, March 12th. The energy company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.09. The firm had revenue of $167.06 million for the quarter, compared to analyst estimates of $173.00 million. Berry had a return on equity of 6.50% and a net margin of 9.40%. As a group, research analysts predict that Berry Co. will post 0.58 EPS for the current fiscal year.

Berry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 22nd will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Friday, March 21st. Berry’s dividend payout ratio is presently 48.00%.

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.