Berry Petroleum Company LLC (NASDAQ:BRY) Director Benefit Street Partners Llc sold 5,085,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $9.84, for a total transaction of $50,036,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of BRY stock traded up $0.12 during trading hours on Friday, reaching $10.51. 407,534 shares of the stock traded hands, compared to its average volume of 873,781. Berry Petroleum Company LLC has a 1-year low of $7.87 and a 1-year high of $18.55. The firm has a market capitalization of $834.35 million and a P/E ratio of 8.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85.
Berry Petroleum (NASDAQ:BRY) last posted its earnings results on Wednesday, May 8th. The energy company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.01). The business had revenue of $76.54 million during the quarter, compared to the consensus estimate of $146.13 million. Berry Petroleum had a return on equity of 13.15% and a net margin of 18.84%. Sell-side analysts predict that Berry Petroleum Company LLC will post 1.56 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Oaktree Capital Management LP bought a new stake in Berry Petroleum during the 1st quarter worth about $90,090,000. Benefit Street Partners LLC grew its holdings in Berry Petroleum by 27.9% during the 1st quarter. Benefit Street Partners LLC now owns 23,771,620 shares of the energy company’s stock worth $274,325,000 after acquiring an additional 5,182,929 shares during the last quarter. FMR LLC grew its holdings in Berry Petroleum by 61.1% during the 4th quarter. FMR LLC now owns 7,871,163 shares of the energy company’s stock worth $68,874,000 after acquiring an additional 2,985,746 shares during the last quarter. BlackRock Inc. grew its holdings in Berry Petroleum by 155.8% during the 1st quarter. BlackRock Inc. now owns 3,163,091 shares of the energy company’s stock worth $36,501,000 after acquiring an additional 1,926,341 shares during the last quarter. Finally, Vanguard Group Inc. bought a new stake in Berry Petroleum during the 3rd quarter worth about $17,448,000.
BRY has been the subject of several analyst reports. Zacks Investment Research cut shares of Berry Petroleum from a “buy” rating to a “hold” rating in a report on Friday, May 24th. Capital One Financial raised shares of Berry Petroleum from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. Finally, ValuEngine cut shares of Berry Petroleum from a “sell” rating to a “strong sell” rating in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $17.00.
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About Berry Petroleum
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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