Berry (NASDAQ:BRY) Trading 5.8% Higher

Berry Co. (NASDAQ:BRYGet Rating)’s share price traded up 5.8% during mid-day trading on Tuesday . The stock traded as high as $8.89 and last traded at $8.75. 16,445 shares traded hands during trading, a decline of 98% from the average session volume of 717,533 shares. The stock had previously closed at $8.27.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. TheStreet raised shares of Berry from a “c” rating to a “b-” rating in a research report on Wednesday, November 2nd. Jefferies Financial Group assumed coverage on shares of Berry in a research report on Wednesday, October 19th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Piper Sandler lowered their price objective on shares of Berry from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Berry has an average rating of “Moderate Buy” and a consensus price target of $11.50.

Berry Trading Down 0.5 %

The firm has a market cap of $677.09 million, a PE ratio of 3.90 and a beta of 2.25. The company’s fifty day moving average price is $8.64 and its two-hundred day moving average price is $8.97. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51.

Berry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Tuesday, November 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Monday, November 14th. Berry’s payout ratio is 10.62%.

Insider Activity

In other news, major shareholder Oaktree Capital Management Lp sold 1,000,000 shares of Berry stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $9.00, for a total value of $9,000,000.00. Following the sale, the insider now owns 10,622,000 shares of the company’s stock, valued at $95,598,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 4,825,000 shares of company stock valued at $42,612,500 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Berry

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in shares of Berry by 16.7% in the first quarter. Nisa Investment Advisors LLC now owns 24,730 shares of the energy company’s stock valued at $255,000 after purchasing an additional 3,530 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Berry by 14.8% in the first quarter. Victory Capital Management Inc. now owns 167,119 shares of the energy company’s stock valued at $1,758,000 after purchasing an additional 21,506 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Berry by 120.6% in the first quarter. New York State Common Retirement Fund now owns 117,727 shares of the energy company’s stock valued at $1,215,000 after purchasing an additional 64,366 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of Berry in the first quarter valued at about $341,000. Finally, Swiss National Bank lifted its stake in shares of Berry by 6.8% in the first quarter. Swiss National Bank now owns 132,400 shares of the energy company’s stock valued at $1,366,000 after purchasing an additional 8,400 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

About Berry

(Get Rating)

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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