Berry Co. (BRY) To Go Ex-Dividend on August 12th

Berry Co. (NASDAQ:BRYGet Rating) announced a quarterly dividend on Thursday, August 4th, Wall Street Journal reports. Investors of record on Monday, August 15th will be given a dividend of 0.06 per share by the energy company on Thursday, August 25th. This represents a $0.24 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, August 12th.

Berry has decreased its dividend payment by an average of 1.6% annually over the last three years. Berry has a dividend payout ratio of 9.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Berry to earn $3.83 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 6.3%.

Berry Stock Performance

NASDAQ:BRY opened at $9.17 on Friday. The stock has a market cap of $740.57 million, a P/E ratio of 229.31 and a beta of 2.36. The stock has a 50 day simple moving average of $8.70 and a 200 day simple moving average of $9.71. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.62. Berry has a 1-year low of $4.72 and a 1-year high of $12.85.

Berry (NASDAQ:BRYGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The energy company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.16). Berry had a return on equity of 17.78% and a net margin of 0.74%. During the same period last year, the firm earned ($0.08) EPS. Research analysts anticipate that Berry will post 3.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on BRY. KeyCorp raised their price objective on Berry from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, April 14th. Piper Sandler lowered their price objective on Berry from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, July 22nd.

Insider Activity

In other news, major shareholder Benefit Street Partners Llc sold 288,000 shares of Berry stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $11.05, for a total value of $3,182,400.00. Following the transaction, the insider now owns 10,415,275 shares in the company, valued at approximately $115,088,788.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $11.30, for a total transaction of $2,164,978.30. Following the sale, the insider now owns 11,622,000 shares in the company, valued at approximately $131,328,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Benefit Street Partners Llc sold 288,000 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $11.05, for a total value of $3,182,400.00. Following the sale, the insider now owns 10,415,275 shares in the company, valued at approximately $115,088,788.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,607,222 shares of company stock worth $18,154,098. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Berry

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Berry by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,786,472 shares of the energy company’s stock worth $39,076,000 after acquiring an additional 13,481 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Berry by 15.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,823,380 shares of the energy company’s stock worth $18,818,000 after buying an additional 243,867 shares during the period. Bank of New York Mellon Corp lifted its holdings in Berry by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 599,135 shares of the energy company’s stock worth $6,183,000 after buying an additional 10,668 shares during the period. Prudential Financial Inc. lifted its holdings in Berry by 16.0% during the 1st quarter. Prudential Financial Inc. now owns 347,477 shares of the energy company’s stock worth $3,586,000 after buying an additional 47,972 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Berry by 2.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 329,733 shares of the energy company’s stock worth $3,403,000 after buying an additional 7,688 shares during the period. Institutional investors own 92.68% of the company’s stock.

Berry Company Profile

(Get Rating)

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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Dividend History for Berry (NASDAQ:BRY)

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