Berry Co. (NASDAQ:BRY) Short Interest Update

Berry Co. (NASDAQ:BRY) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 2,760,000 shares, a decrease of 8.0% from the September 15th total of 3,000,000 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is presently 2.7 days.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price objective on shares of Berry from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Insider Activity

In related news, CEO Fernando Araujo sold 33,950 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $6.22, for a total value of $211,169.00. Following the completion of the transaction, the chief executive officer now owns 253,045 shares in the company, valued at $1,573,939.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Berry

Several institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. acquired a new stake in Berry during the second quarter valued at $25,000. Gladius Capital Management LP bought a new stake in shares of Berry in the 2nd quarter valued at approximately $27,000. CWM LLC increased its holdings in Berry by 287.4% in the second quarter. CWM LLC now owns 4,560 shares of the energy company’s stock worth $29,000 after buying an additional 3,383 shares during the last quarter. Viking Fund Management LLC bought a new position in Berry during the first quarter valued at approximately $40,000. Finally, Meeder Asset Management Inc. lifted its stake in Berry by 43.5% in the second quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock valued at $47,000 after acquiring an additional 2,186 shares during the last quarter. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Berry Stock Performance

Shares of BRY stock opened at $5.36 on Friday. The stock’s fifty day simple moving average is $5.66 and its 200-day simple moving average is $6.63. The company has a market capitalization of $412.39 million, a price-to-earnings ratio of 536.00 and a beta of 1.72. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. Berry has a 1-year low of $4.82 and a 1-year high of $8.88.

Berry (NASDAQ:BRY) last issued its earnings results on Friday, August 9th. The energy company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $197.80 million during the quarter, compared to analyst estimates of $187.38 million. Berry had a negative net margin of 4.19% and a positive return on equity of 6.69%. Berry’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, sell-side analysts predict that Berry will post 0.63 earnings per share for the current fiscal year.

Berry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date of this dividend was Friday, August 23rd. Berry’s dividend payout ratio (DPR) is currently 4,800.00%.

Berry Company 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.