Berry (NASDAQ:BRY) Downgraded by Zacks Research to Strong Sell

Berry (NASDAQ:BRY) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

BRY has been the topic of a number of other research reports. Piper Sandler cut their target price on Berry from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, July 17th. Weiss Ratings downgraded Berry from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Johnson Rice downgraded Berry from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research note on Tuesday, September 16th. Finally, Wall Street Zen downgraded Berry from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $4.00.

Berry Stock Performance

Shares of BRY opened at $3.33 on Monday. 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 stock has a 50 day moving average price of $3.45 and a two-hundred day moving average price of $3.02. The firm has a market capitalization of $258.41 million, a P/E ratio of 47.57 and a beta of 1.20. Berry has a 52 week low of $2.11 and a 52 week high of $5.90.

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

Institutional Investors Weigh In On Berry

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Berry by 12.0% during the first quarter. Vanguard Group Inc. now owns 6,699,963 shares of the energy company’s stock worth $21,507,000 after acquiring an additional 719,845 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Berry by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,737,717 shares of the energy company’s stock worth $10,458,000 after acquiring an additional 38,748 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Berry by 6.8% during the second quarter. American Century Companies Inc. now owns 2,466,851 shares of the energy company’s stock worth $6,833,000 after acquiring an additional 156,843 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Berry by 5.4% during the second quarter. Geode Capital Management LLC now owns 2,313,904 shares of the energy company’s stock worth $6,411,000 after acquiring an additional 119,219 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of Berry by 2.3% during the second quarter. Qube Research & Technologies Ltd now owns 1,546,044 shares of the energy company’s stock worth $4,283,000 after acquiring an additional 35,345 shares in the last quarter. Hedge funds and other institutional investors own 94.88% of the company’s stock.

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.