Berry (NASDAQ:BRY) Trading Down 5.2% Following Weak Earnings

Berry Co. (NASDAQ:BRY) traded down 5.2% during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $7.98 and last traded at $8.05. 196,053 shares were traded during trading, a decline of 79% from the average session volume of 953,779 shares. The stock had previously closed at $8.49.

The energy company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Berry had a return on equity of 6.04% and a net margin of 0.41%. The business had revenue of $202.31 million during the quarter, compared to analysts’ expectations of $182.65 million. During the same quarter in the previous year, the firm earned $0.07 EPS. Berry’s quarterly revenue was down 6.5% on a year-over-year basis.

Berry Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 24th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 14th. Berry’s payout ratio is 4,800.00%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Berry

Several institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Berry by 2,942.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,039,356 shares of the energy company’s stock worth $7,307,000 after buying an additional 1,005,195 shares during the period. South Dakota Investment Council lifted its holdings in Berry by 251.0% in the third quarter. South Dakota Investment Council now owns 1,382,476 shares of the energy company’s stock worth $11,336,000 after buying an additional 988,653 shares during the period. LSV Asset Management lifted its holdings in Berry by 136.5% in the fourth quarter. LSV Asset Management now owns 1,528,863 shares of the energy company’s stock worth $10,748,000 after buying an additional 882,441 shares during the period. Access Investment Management LLC purchased a new stake in Berry in the fourth quarter worth about $3,058,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Berry by 64.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,085,554 shares of the energy company’s stock worth $8,902,000 after buying an additional 425,293 shares during the period. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Berry Stock Up 0.1 %

The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $7.92 and its 200 day simple moving average is $7.40. The firm has a market capitalization of $618.60 million, a PE ratio of 804.00 and a beta of 1.77.

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.