Berry (NASDAQ:BRY) Downgraded by Zacks Research to Strong Sell

Berry (NASDAQ:BRY) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

BRY has been the subject of several other reports. Weiss Ratings lowered Berry from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Johnson Rice lowered Berry from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Tuesday, September 16th. Piper Sandler lowered their price objective on Berry from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, July 17th. Finally, Wall Street Zen lowered Berry from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $4.00.

Berry Stock Down 1.2%

Shares of NASDAQ:BRY opened at $3.33 on Monday. The firm has a market cap of $258.41 million, a P/E ratio of 47.57 and a beta of 1.20. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. Berry has a 12-month low of $2.11 and a 12-month high of $5.90. The business has a fifty day simple moving average of $3.45 and a 200 day simple moving average of $3.02.

Berry (NASDAQ:BRY) last announced its earnings results on Wednesday, August 6th. The energy company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.65. The business had revenue of $210.08 million during the quarter, compared to analyst estimates of $155.00 million. Berry had a return on equity of 5.27% and a net margin of 0.60%. Analysts predict that Berry will post 0.58 earnings per share for the current year.

Institutional Trading of Berry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRY. Vanguard Group Inc. increased its position in Berry by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 6,699,963 shares of the energy company’s stock valued at $21,507,000 after buying an additional 719,845 shares in the last quarter. Marshall Wace LLP increased its holdings in Berry by 276.9% during the 2nd quarter. Marshall Wace LLP now owns 954,004 shares of the energy company’s stock worth $2,643,000 after purchasing an additional 700,863 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Berry by 82.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,164,123 shares of the energy company’s stock worth $3,731,000 after purchasing an additional 527,463 shares in the last quarter. AQR Capital Management LLC increased its holdings in Berry by 46.6% during the 1st quarter. AQR Capital Management LLC now owns 1,396,710 shares of the energy company’s stock worth $4,483,000 after purchasing an additional 444,155 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in Berry by 91.6% during the 2nd quarter. Prudential Financial Inc. now owns 819,235 shares of the energy company’s stock worth $2,269,000 after purchasing an additional 391,688 shares in the last quarter. 94.88% of the stock is owned by institutional investors.

About Berry

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.