SummerHaven Investment Management LLC Grows Stock Holdings in Berry Co. (NASDAQ:BRY)

SummerHaven Investment Management LLC boosted its holdings in Berry Co. (NASDAQ:BRY) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 99,791 shares of the energy company’s stock after purchasing an additional 1,580 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Berry were worth $702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BRY. SG Americas Securities LLC acquired a new stake in Berry during the third quarter worth approximately $269,000. Bailard Inc. acquired a new stake in Berry during the 3rd quarter worth $225,000. New York State Teachers Retirement System purchased a new stake in Berry in the third quarter valued at $56,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Berry by 99.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,483 shares of the energy company’s stock valued at $143,000 after acquiring an additional 8,724 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Berry by 68.7% during the third quarter. Mackenzie Financial Corp now owns 17,244 shares of the energy company’s stock worth $136,000 after purchasing an additional 7,022 shares during the last quarter. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, TheStreet raised Berry from a “c” rating to a “b-” rating in a report on Friday, March 8th.

Berry Stock Performance

Shares of BRY opened at $8.79 on Tuesday. Berry Co. has a 12-month low of $6.22 and a 12-month high of $8.94. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.56. The firm has a market cap of $676.30 million, a PE ratio of 19.11 and a beta of 1.80. The company’s 50 day simple moving average is $7.85 and its 200-day simple moving average is $7.39.

Berry (NASDAQ:BRY) last posted its quarterly earnings data on Wednesday, March 6th. The energy company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.12). Berry had a net margin of 4.14% and a return on equity of 5.27%. The company had revenue of $216.40 million for the quarter, compared to analysts’ expectations of $190.28 million. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was down 11.1% on a year-over-year basis. As a group, equities analysts predict that Berry Co. will post 0.89 EPS for the current year.

Berry Increases Dividend

The company also recently disclosed a None dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 15th were paid a $0.26 dividend. This is a boost from Berry’s previous None dividend of $0.21. This represents a yield of 6.7%. The ex-dividend date was Thursday, March 14th. Berry’s payout ratio is currently 104.35%.

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.