Williams & Novak LLC Invests $58,000 in Berry Corporation $BRY

Williams & Novak LLC purchased a new position in shares of Berry Corporation (NASDAQ:BRY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,110 shares of the energy company’s stock, valued at approximately $58,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Berry by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 6,699,963 shares of the energy company’s stock worth $21,507,000 after purchasing an additional 719,845 shares during the period. American Century Companies Inc. raised its position in shares of Berry by 9.9% during the 1st quarter. American Century Companies Inc. now owns 2,310,008 shares of the energy company’s stock worth $7,415,000 after purchasing an additional 208,183 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Berry by 22.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,543,544 shares of the energy company’s stock worth $4,955,000 after purchasing an additional 283,940 shares during the period. AQR Capital Management LLC raised its position in shares of Berry by 46.6% during the 1st quarter. AQR Capital Management LLC now owns 1,396,710 shares of the energy company’s stock worth $4,483,000 after purchasing an additional 444,155 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Berry by 14.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,319,210 shares of the energy company’s stock worth $4,235,000 after purchasing an additional 170,764 shares during the period. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on BRY shares. Wall Street Zen cut Berry from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Weiss Ratings cut Berry from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. Piper Sandler lowered their target price on Berry from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, July 17th. Finally, Johnson Rice cut Berry from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Berry has an average rating of “Reduce” and a consensus target price of $4.00.

Berry Stock Performance

Shares of NASDAQ BRY opened at $3.48 on Friday. The stock has a fifty day moving average price of $3.38 and a two-hundred day moving average price of $3.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $270.05 million, a P/E ratio of 49.71 and a beta of 1.20. Berry Corporation has a 1 year low of $2.11 and a 1 year high of $5.90.

Berry (NASDAQ:BRY) last issued its quarterly earnings results on Wednesday, August 6th. The energy company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.65. The firm had revenue of $210.08 million during the quarter, compared to analyst estimates of $155.00 million. Berry had a return on equity of 5.27% and a net margin of 0.60%. Research analysts forecast that Berry Corporation will post 0.58 EPS for the current fiscal year.

Berry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.12 annualized dividend and a dividend yield of 3.4%. Berry’s dividend payout ratio (DPR) is currently 171.43%.

About Berry

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.