51,389 Shares in Berry Co. (NASDAQ:BRY) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new position in Berry Co. (NASDAQ:BRY) in the third quarter, HoldingsChannel reports. The institutional investor purchased 51,389 shares of the energy company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Berry by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 4,359,786 shares of the energy company’s stock valued at $35,096,000 after purchasing an additional 77,487 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Berry by 123.7% during the first quarter. Lazard Asset Management LLC now owns 17,383 shares of the energy company’s stock worth $139,000 after acquiring an additional 9,612 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Berry by 16.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,664 shares of the energy company’s stock worth $175,000 after acquiring an additional 2,999 shares during the last quarter. Comerica Bank purchased a new stake in shares of Berry in the 1st quarter valued at $146,000. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Berry by 228.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 190,544 shares of the energy company’s stock valued at $1,231,000 after purchasing an additional 132,568 shares during the last quarter. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Berry Stock Performance

Shares of BRY stock opened at $4.08 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. Berry Co. has a fifty-two week low of $3.88 and a fifty-two week high of $8.88. The company has a market capitalization of $313.92 million, a P/E ratio of 3.78 and a beta of 1.72. The stock has a 50 day moving average price of $4.91 and a two-hundred day moving average price of $5.84.

Berry (NASDAQ:BRY) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Berry had a net margin of 9.40% and a return on equity of 6.50%. The firm had revenue of $259.80 million for the quarter, compared to analysts’ expectations of $186.67 million. During the same period in the previous year, the company earned $0.15 EPS. The company’s quarterly revenue was up 31.3% on a year-over-year basis. Analysts expect that Berry Co. will post 0.6 earnings per share for the current year.

Berry Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were paid a $0.03 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.12 annualized dividend and a dividend yield of 2.94%. Berry’s payout ratio is presently 11.11%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target on shares of Berry from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Monday, November 18th.

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.