Quantinno Capital Management LP Acquires New Holdings in Berry Co. (NASDAQ:BRY)

Quantinno Capital Management LP bought a new position in shares of Berry Co. (NASDAQ:BRY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 24,734 shares of the energy company’s stock, valued at approximately $127,000.

Other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. purchased a new position in shares of Berry during the 2nd quarter worth approximately $25,000. CWM LLC boosted its position in shares of Berry by 287.4% during 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 period. Meeder Asset Management Inc. grew its stake in shares of 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 buying an additional 2,186 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Berry in the 2nd quarter valued at $50,000. Finally, Quarry LP lifted its stake in Berry by 390.6% during the 3rd quarter. Quarry LP now owns 12,643 shares of the energy company’s stock worth $65,000 after acquiring an additional 10,066 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Berry Price Performance

Berry stock opened at $4.15 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. Berry Co. has a 52-week low of $3.87 and a 52-week high of $8.88. The firm has a market cap of $319.30 million, a PE ratio of 3.84 and a beta of 1.67. The company’s 50 day moving average is $4.67 and its two-hundred day moving average is $5.61.

Berry (NASDAQ:BRY) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) 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 company had revenue of $259.80 million during the quarter, compared to analyst estimates of $186.67 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. The firm’s revenue was up 31.3% on a year-over-year basis. On average, research analysts expect that Berry Co. will post 0.6 EPS for the current fiscal year.

Berry Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were paid a dividend of $0.03 per share. The ex-dividend date was Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.89%. Berry’s payout ratio is 11.11%.

Analyst Upgrades and Downgrades

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

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.