Berry Petroleum (NASDAQ:BRY) had its price objective cut by research analysts at Wells Fargo & Co from $11.00 to $10.00 in a report released on Friday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Co‘s target price suggests a potential upside of 38.12% from the company’s current price.
A number of other brokerages have also issued reports on BRY. BMO Capital Markets lowered Berry Petroleum from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $13.00 to $10.00 in a research report on Wednesday, November 27th. Johnson Rice lowered Berry Petroleum from a “buy” rating to an “accumulate” rating in a research report on Tuesday, November 19th. ValuEngine raised Berry Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Zacks Investment Research raised Berry Petroleum from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a research report on Wednesday. Finally, Tudor Pickering lowered Berry Petroleum from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.81.
NASDAQ:BRY opened at $7.24 on Friday. Berry Petroleum has a fifty-two week low of $6.87 and a fifty-two week high of $13.29. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $627.33 million, a PE ratio of 3.32, a price-to-earnings-growth ratio of 0.35 and a beta of 2.40. The business’s 50-day simple moving average is $8.86 and its 200-day simple moving average is $9.25.
Berry Petroleum (NASDAQ:BRY) last released its quarterly earnings data on Thursday, November 7th. The energy company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Berry Petroleum had a return on equity of 11.49% and a net margin of 25.26%. The business had revenue of $194.67 million for the quarter, compared to analysts’ expectations of $160.70 million. On average, research analysts expect that Berry Petroleum will post 1.37 earnings per share for the current year.
In related news, COO Gary A. Grove purchased 12,000 shares of the stock in a transaction on Friday, November 22nd. The shares were purchased at an average price of $7.05 per share, with a total value of $84,600.00. Following the transaction, the chief operating officer now directly owns 151,362 shares of the company’s stock, valued at $1,067,102.10. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Benefit Street Partners Llc sold 16,830 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $9.15, for a total value of $153,994.50. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 54,403 shares of company stock worth $389,270 and have sold 1,481,871 shares worth $15,675,892. 0.59% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of BRY. Marshall Wace North America L.P. acquired a new position in shares of Berry Petroleum during the 1st quarter worth approximately $63,000. Bank of Montreal Can increased its holdings 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 acquiring an additional 5,095 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Berry Petroleum during the 2nd quarter worth approximately $66,000. Fox Run Management L.L.C. acquired a new position in shares of Berry Petroleum during the 3rd quarter worth approximately $97,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Berry Petroleum during the 2nd quarter worth approximately $132,000. 97.99% of the stock is currently owned by hedge funds and other institutional investors.
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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