Berry Petroleum Company LLC (NYSE:BRY) was the recipient of a significant increase in short interest during the month of September. As of September 28th, there was short interest totalling 1,328,929 shares, an increase of 124.1% from the September 14th total of 593,042 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 829,372 shares, the short-interest ratio is presently 1.6 days.
A number of research analysts recently weighed in on the stock. Tudor Pickering assumed coverage on shares of Berry Petroleum in a report on Tuesday, August 21st. They issued a “buy” rating for the company. Capital One Financial assumed coverage on shares of Berry Petroleum in a report on Friday, August 24th. They issued an “overweight” rating and a $24.00 target price for the company. Goldman Sachs Group assumed coverage on shares of Berry Petroleum in a report on Monday, August 20th. They issued a “buy” rating and a $20.00 target price for the company. Wells Fargo & Co assumed coverage on shares of Berry Petroleum in a report on Monday, August 20th. They issued an “outperform” rating and a $17.00 target price for the company. Finally, Evercore ISI assumed coverage on shares of Berry Petroleum in a report on Friday, August 24th. They issued an “outperform” rating and a $18.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $20.67.
BRY stock opened at $15.93 on Friday. Berry Petroleum has a fifty-two week low of $3.00 and a fifty-two week high of $18.55.
Berry Petroleum (NYSE:BRY) last posted its earnings results on Wednesday, August 22nd. The energy company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.22). The company had revenue of $65.98 million for the quarter, compared to analysts’ expectations of $118.50 million.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Saturday, September 15th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This is a positive change from Berry Petroleum’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.26%. Berry Petroleum’s dividend payout ratio (DPR) is 11.21%.
In other news, major shareholder Goldman Sachs Asset Management sold 516,373 shares of Berry Petroleum stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $13.16, for a total transaction of $6,795,468.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Gary A. Grove acquired 10,000 shares of Berry Petroleum stock in a transaction dated Monday, July 30th. The shares were bought at an average price of $13.60 per share, for a total transaction of $136,000.00. The disclosure for this purchase can be found here.
Berry Petroleum 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.
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