Berry Petroleum (BRY) Downgraded to Hold at Zacks Investment Research

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Berry Petroleum (NASDAQ:BRY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Berry Petroleum Corporation is an energy company. It engaged in the acquisition, exploration, development and production of domestic oil and natural gas reserves primarily located in the San Joaquin Basin in California, the Uinta Basin in Utah, the Piceance Basin in Colorado and the East Texas Basin in Texas. Berry Petroleum Corporation is based in Bakersfield, CA. “

Other analysts have also issued research reports about the company. Capital One Financial raised Berry Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Thursday. ValuEngine lowered Berry Petroleum from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $12.00 price objective on shares of Berry Petroleum in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Berry Petroleum has a consensus rating of “Buy” and a consensus price target of $17.13.

Shares of BRY stock opened at $10.81 on Friday. Berry Petroleum has a fifty-two week low of $7.87 and a fifty-two week high of $18.55. The firm has a market capitalization of $885.11 million and a PE ratio of 8.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85.

Berry Petroleum (NASDAQ:BRY) last posted its quarterly earnings data on Wednesday, May 8th. The energy company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The company had revenue of $76.54 million for the quarter, compared to analyst estimates of $146.13 million. Berry Petroleum had a net margin of 18.84% and a return on equity of 13.15%. As a group, sell-side analysts anticipate that Berry Petroleum will post 1.53 earnings per share for the current fiscal year.

In other Berry Petroleum news, Director Benefit Street Partners Llc sold 76,512 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $11.59, for a total value of $886,774.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.59% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of BRY. FMR LLC lifted its stake in shares of Berry Petroleum by 6.7% in the 1st quarter. FMR LLC now owns 8,396,001 shares of the energy company’s stock valued at $96,890,000 after purchasing an additional 524,838 shares in the last quarter. Oaktree Capital Management LP acquired a new position in shares of Berry Petroleum in the 1st quarter valued at about $90,090,000. CarVal Investors LLC lifted its stake in shares of Berry Petroleum by 1.8% in the 1st quarter. CarVal Investors LLC now owns 6,745,113 shares of the energy company’s stock valued at $77,839,000 after purchasing an additional 120,751 shares in the last quarter. Venor Capital Management LP lifted its stake in shares of Berry Petroleum by 10.3% in the 4th quarter. Venor Capital Management LP now owns 3,412,702 shares of the energy company’s stock valued at $29,861,000 after purchasing an additional 318,861 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Berry Petroleum by 155.8% in the 1st quarter. BlackRock Inc. now owns 3,163,091 shares of the energy company’s stock valued at $36,501,000 after purchasing an additional 1,926,341 shares in the last quarter.

About Berry Petroleum

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.

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