Berry Petroleum Company LLC (NASDAQ:BRY) Sees Large Increase in Short Interest

Berry Petroleum Company LLC (NASDAQ:BRY) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,508,200 shares, a growth of 48.3% from the July 31st total of 1,016,700 shares. Based on an average trading volume of 807,800 shares, the short-interest ratio is presently 1.9 days. Currently, 1.9% of the company’s stock are sold short.

A number of hedge funds have recently modified their holdings of BRY. BNP Paribas Arbitrage SA boosted its holdings in Berry Petroleum by 2,361.7% in the first quarter. BNP Paribas Arbitrage SA now owns 12,456 shares of the energy company’s stock worth $144,000 after purchasing an additional 11,950 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Berry Petroleum during the 1st quarter worth $75,000. SG Americas Securities LLC purchased a new position in shares of Berry Petroleum during the 1st quarter worth $113,000. Rhumbline Advisers boosted its stake in shares of Berry Petroleum by 303.2% during the 1st quarter. Rhumbline Advisers now owns 67,573 shares of the energy company’s stock worth $780,000 after acquiring an additional 50,812 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Berry Petroleum by 307.7% during the 1st quarter. American International Group Inc. now owns 35,341 shares of the energy company’s stock worth $408,000 after acquiring an additional 26,673 shares during the last quarter. Institutional investors own 98.83% of the company’s stock.

Several brokerages recently weighed in on BRY. Zacks Investment Research downgraded shares of Berry Petroleum from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 21st. Capital One Financial raised shares of Berry Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Finally, UBS Group set a $14.00 price target on shares of Berry Petroleum and gave the company a “buy” rating in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Berry Petroleum presently has an average rating of “Hold” and a consensus price target of $12.75.

BRY stock traded up $0.12 on Friday, hitting $9.84. The company had a trading volume of 15,645 shares, compared to its average volume of 573,149. Berry Petroleum has a 12-month low of $7.58 and a 12-month high of $18.55. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock’s 50-day simple moving average is $8.76 and its 200 day simple moving average is $10.69. The stock has a market cap of $773.29 million, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.46 and a beta of 2.41.

Berry Petroleum (NASDAQ:BRY) last issued its earnings results on Wednesday, August 7th. The energy company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.11). Berry Petroleum had a return on equity of 12.64% and a net margin of 24.87%. The company had revenue of $170.07 million during the quarter, compared to analysts’ expectations of $148.70 million. Research analysts forecast that Berry Petroleum will post 1.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.88%. The ex-dividend date is Thursday, September 12th. Berry Petroleum’s dividend payout ratio is currently 38.10%.

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.

Featured Story: How to calculate the intrinsic value of a stock

Receive News & Ratings for Berry Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.