Berry Petroleum Company LLC (NASDAQ:BRY) – Capital One Financial reduced their Q3 2020 EPS estimates for Berry Petroleum in a research report issued to clients and investors on Wednesday, June 24th. Capital One Financial analyst B. Velie now anticipates that the energy company will earn $0.22 per share for the quarter, down from their previous estimate of $0.29. Capital One Financial also issued estimates for Berry Petroleum’s Q4 2020 earnings at $0.23 EPS and FY2020 earnings at $0.99 EPS.
Berry Petroleum (NASDAQ:BRY) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. Berry Petroleum had a positive return on equity of 11.05% and a negative net margin of 4.58%. The company had revenue of $339.27 million for the quarter, compared to the consensus estimate of $148.80 million.
Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Berry Petroleum from a “sell” rating to a “strong sell” rating in a research note on Monday, March 9th. UBS Group boosted their price target on shares of Berry Petroleum from $4.50 to $7.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler cut shares of Berry Petroleum from an “overweight” rating to a “neutral” rating and set a $4.50 price target for the company. in a research report on Monday, March 9th. Zacks Investment Research cut shares of Berry Petroleum from a “buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, BidaskClub cut shares of Berry Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Berry Petroleum presently has a consensus rating of “Hold” and an average price target of $7.28.
BRY opened at $4.76 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.19 and a quick ratio of 2.19. The company’s 50 day simple moving average is $4.70 and its two-hundred day simple moving average is $5.49. Berry Petroleum has a 1-year low of $1.82 and a 1-year high of $11.72. The firm has a market capitalization of $385.24 million, a price-to-earnings ratio of -9.52 and a beta of 3.02.
Several hedge funds and other institutional investors have recently bought and sold shares of BRY. Citigroup Inc. lifted its position in Berry Petroleum by 1,952.8% in the 4th quarter. Citigroup Inc. now owns 62,776 shares of the energy company’s stock valued at $592,000 after purchasing an additional 59,718 shares during the last quarter. UBS Group AG lifted its position in Berry Petroleum by 186.6% in the 4th quarter. UBS Group AG now owns 225,609 shares of the energy company’s stock valued at $2,128,000 after purchasing an additional 146,884 shares during the last quarter. Mackay Shields LLC bought a new stake in Berry Petroleum in the 4th quarter valued at about $2,240,000. Nuveen Asset Management LLC lifted its position in Berry Petroleum by 36.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,042,998 shares of the energy company’s stock valued at $9,835,000 after purchasing an additional 276,205 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Berry Petroleum in the 4th quarter valued at about $28,000. 96.86% of the stock is owned by institutional investors and hedge funds.
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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