Wedge Capital Management L L P NC Acquires 23,266 Shares of Berry Co. (NASDAQ:BRY)

Wedge Capital Management L L P NC grew its holdings in shares of Berry Co. (NASDAQ:BRY) by 29.5% in the 4th quarter, Holdings Channel reports. The fund owned 102,185 shares of the energy company’s stock after buying an additional 23,266 shares during the period. Wedge Capital Management L L P NC’s holdings in Berry were worth $422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in Berry by 12.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,304 shares of the energy company’s stock worth $196,000 after acquiring an additional 3,329 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Berry during the second quarter valued at about $25,000. ClearAlpha Technologies LP grew its holdings in shares of Berry by 7.8% during the third quarter. ClearAlpha Technologies LP now owns 55,516 shares of the energy company’s stock worth $285,000 after purchasing an additional 3,998 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Berry by 29.0% in the second quarter. Mackenzie Financial Corp now owns 19,311 shares of the energy company’s stock valued at $125,000 after buying an additional 4,343 shares during the period. Finally, Koss Olinger Consulting LLC raised its holdings in Berry by 6.7% in the 3rd quarter. Koss Olinger Consulting LLC now owns 72,660 shares of the energy company’s stock valued at $373,000 after buying an additional 4,533 shares during the last quarter. Institutional investors own 94.88% of the company’s stock.

Berry Trading Down 1.8 %

BRY opened at $4.91 on Wednesday. The company has a fifty day moving average price of $4.25 and a two-hundred day moving average price of $5.25. Berry Co. has a 1-year low of $3.72 and a 1-year high of $8.88. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market cap of $377.78 million, a P/E ratio of 4.55 and a beta of 1.64.

Berry (NASDAQ:BRY) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $186.67 million. During the same period in the previous year, the firm earned $0.15 EPS. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. Analysts predict that Berry Co. will post 0.6 EPS for the current fiscal year.

Berry Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a yield of 2.44%. Berry’s dividend payout ratio (DPR) is presently 11.11%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their price target on shares of 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.