LSV Asset Management Boosts Stake in Berry Co. (NASDAQ:BRY)

LSV Asset Management raised its position in shares of Berry Co. (NASDAQ:BRY) by 136.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,528,863 shares of the energy company’s stock after buying an additional 882,441 shares during the period. LSV Asset Management owned about 2.02% of Berry worth $10,748,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in shares of Berry in the third quarter valued at approximately $56,000. DekaBank Deutsche Girozentrale acquired a new position in Berry during the 3rd quarter worth $66,000. MQS Management LLC purchased a new position in shares of Berry in the 3rd quarter valued at about $131,000. Mackenzie Financial Corp increased its stake 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 buying an additional 7,022 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted 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 worth $143,000 after acquiring an additional 8,724 shares during the last quarter. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Berry Trading Down 3.8 %

Shares of Berry stock opened at $7.67 on Wednesday. Berry Co. has a 12-month low of $6.22 and a 12-month high of $8.94. The stock has a market cap of $590.13 million, a price-to-earnings ratio of 767.00 and a beta of 1.77. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $7.97 and a 200-day simple moving average of $7.36.

Berry (NASDAQ:BRY) last released its quarterly earnings results on Wednesday, May 1st. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The firm had revenue of $202.31 million for the quarter, compared to analysts’ expectations of $182.65 million. Berry had a return on equity of 6.15% and a net margin of 0.41%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. On average, equities analysts forecast that Berry Co. will post 0.89 EPS for the current fiscal year.

Berry Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date is Tuesday, May 14th. Berry’s dividend payout ratio is currently 4,800.00%.

Wall Street Analysts Forecast Growth

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

Berry 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.