Berry Co. (NASDAQ:BRY) Short Interest Down 11.3% in November

Berry Co. (NASDAQ:BRY) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,110,000 shares, a decrease of 11.3% from the October 31st total of 2,380,000 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily volume of 1,310,000 shares, the short-interest ratio is currently 1.6 days.

Berry Stock Performance

Shares of NASDAQ:BRY traded down $0.03 during trading on Monday, hitting $4.05. 958,379 shares of the company were exchanged, compared to its average volume of 1,104,651. The company has a market cap of $311.61 million, a PE ratio of 3.78 and a beta of 1.72. The stock has a 50 day moving average of $4.91 and a 200 day moving average of $5.84. Berry has a 52-week low of $3.88 and a 52-week high of $8.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80.

Berry (NASDAQ:BRY) last issued its quarterly earnings data 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). The business had revenue of $259.80 million during the quarter, compared to analysts’ expectations of $186.67 million. Berry had a return on equity of 6.50% and a net margin of 9.40%. The company’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. As a group, equities research analysts predict that Berry will post 0.6 EPS for the current year.

Berry Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a yield of 2.96%. Berry’s dividend payout ratio is presently 11.11%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new position in shares of Berry during the second quarter valued at about $25,000. Gladius Capital Management LP bought a new stake in Berry during the 2nd quarter valued at approximately $27,000. CWM LLC boosted its position in Berry by 287.4% during the 2nd quarter. CWM LLC now owns 4,560 shares of the energy company’s stock valued at $29,000 after acquiring an additional 3,383 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Berry by 43.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock worth $47,000 after purchasing an additional 2,186 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new stake in shares of Berry in the 3rd quarter worth approximately $47,000. Institutional investors own 94.88% of the company’s stock.

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.