Hancock Whitney Corp acquired a new position in Berry Petroleum Company LLC (NASDAQ:BRY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 256,597 shares of the energy company’s stock, valued at approximately $2,420,000. Hancock Whitney Corp owned approximately 0.32% of Berry Petroleum at the end of the most recent quarter.
A number of other large investors have also modified their holdings of BRY. State Street Corp lifted its position in Berry Petroleum by 4.2% during the 3rd quarter. State Street Corp now owns 1,232,287 shares of the energy company’s stock worth $11,679,000 after acquiring an additional 49,322 shares during the last quarter. Caymus Capital Partners L.P. acquired a new position in Berry Petroleum during the 3rd quarter worth $11,168,000. Foundry Partners LLC lifted its position in Berry Petroleum by 1,831.2% during the 3rd quarter. Foundry Partners LLC now owns 381,892 shares of the energy company’s stock worth $3,575,000 after acquiring an additional 362,117 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Berry Petroleum during the 2nd quarter worth $2,480,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in Berry Petroleum during the 3rd quarter worth $2,056,000. Hedge funds and other institutional investors own 96.76% of the company’s stock.
In related news, Director Benefit Street Partners Llc sold 16,830 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $9.15, for a total value of $153,994.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arthur T. Smith purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average cost of $7.15 per share, with a total value of $107,250.00. Following the transaction, the chief executive officer now directly owns 218,566 shares of the company’s stock, valued at $1,562,746.90. The disclosure for this purchase can be found here. Insiders have bought 54,403 shares of company stock valued at $389,270 in the last ninety days. 0.59% of the stock is owned by company insiders.
A number of research analysts have recently commented on BRY shares. Evercore ISI started coverage on shares of Berry Petroleum in a research report on Wednesday, November 20th. They set a “hold” rating and a $12.00 price objective for the company. Johnson Rice lowered shares of Berry Petroleum from a “buy” rating to an “accumulate” rating in a research report on Tuesday, November 19th. Zacks Investment Research raised shares of Berry Petroleum from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, January 22nd. Wells Fargo & Co cut their price objective on shares of Berry Petroleum from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Finally, Tudor Pickering lowered shares of Berry Petroleum from a “buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a research report on Wednesday, November 20th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Berry Petroleum has a consensus rating of “Hold” and an average price target of $10.64.
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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