Berry Petroleum Company LLC (NASDAQ:BRY) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,508,200 shares, an increase of 48.3% from the July 31st total of 1,016,700 shares. Based on an average trading volume of 807,800 shares, the short-interest ratio is presently 1.9 days. Approximately 1.9% of the shares of the stock are sold short.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Berry Petroleum from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 21st. Capital One Financial upgraded shares of Berry Petroleum from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. Finally, UBS Group set a $14.00 target price on shares of Berry Petroleum and gave the stock a “buy” rating in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Berry Petroleum currently has a consensus rating of “Hold” and an average target price of $12.75.
Shares of Berry Petroleum stock traded up $0.12 during trading hours on Friday, reaching $9.84. The company’s stock had a trading volume of 15,645 shares, compared to its average volume of 573,149. The firm has a 50 day moving average price of $8.76 and a 200-day moving average price of $10.69. Berry Petroleum has a one year low of $7.58 and a one year high of $18.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $773.29 million, a P/E ratio of 7.79, a P/E/G ratio of 0.46 and a beta of 2.41.
Berry Petroleum (NASDAQ:BRY) last posted its earnings results on Wednesday, August 7th. The energy company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.11). Berry Petroleum had a return on equity of 12.64% and a net margin of 24.87%. The business had revenue of $170.07 million during the quarter, compared to the consensus estimate of $148.70 million. As a group, sell-side analysts forecast that Berry Petroleum will post 1.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.88%. Berry Petroleum’s dividend payout ratio (DPR) is presently 38.10%.
Several institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new position in shares of Berry Petroleum during the 2nd quarter worth about $53,000. Marshall Wace North America L.P. purchased a new position in shares of Berry Petroleum during the 1st quarter worth about $63,000. Bank of Montreal Can boosted its stake in shares of Berry Petroleum by 496.1% during the 2nd quarter. Bank of Montreal Can now owns 6,122 shares of the energy company’s stock worth $65,000 after purchasing an additional 5,095 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Berry Petroleum during the 2nd quarter worth about $66,000. Finally, Versant Capital Management Inc purchased a new position in shares of Berry Petroleum during the 2nd quarter worth about $67,000. Hedge funds and other institutional investors own 98.83% of the company’s stock.
About Berry Petroleum
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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