Berry Co. (NASDAQ:BRY – Get Rating) major shareholder Oaktree Capital Management Lp sold 191,591 shares of the company in a trade that took place on Thursday, June 2. The shares were 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 of the company, valued at $131,328,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Large shareholders who hold more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Oaktree Capital Management Lp also recently completed the following transactions:
- On Tuesday, May 31, Oaktree Capital Management Lp sold 254,754 shares of Berry. The stock was sold at an average price of $11.32, for a total transaction of $2,883,815.28.
Shares of NASDAQ BRY traded at $0.01 during Friday’s midday session, hitting $11.26. The company’s shares had a trading volume of 1,507,142 shares, compared to an average volume of 498,615. The company has a debt ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0. .68. Berry Co. has a 52-week low of $4.72 and a 52-week high of $12.85. The stock has a fifty-day moving average of $11.07 and a two-hundred-day moving average of $9.76. The company has a market capitalization of $909.36 million, a PE ratio of -17.66 and a beta of 2.34.
Berry (NASDAQ:BRY – Get Rating) last released its quarterly results on Wednesday, May 4. The energy company reported EPS of $0.51 for the quarter, beating consensus analyst estimates of $0.45 by $0.06. Berry had a positive return on equity of 8.68% and a negative net margin of 9.37%. The company posted revenue of $94.08 million for the quarter, compared to $188.93 million expected by analysts. During the same period of the previous year, the company achieved EPS of $0.07. Analysts expect Berry Co. to post EPS of 3.67 for the current fiscal year.
The company also recently announced a dividend, which will be paid on Wednesday, June 15. Investors of record on Monday, May 16 will receive a dividend of $0.13 per share. The ex-dividend date is Friday, May 13. Berry’s payout ratio is -37.50%.
A number of hedge funds and other institutional investors have recently changed their positions in BRY. Point72 Hong Kong Ltd bought a new position in Berry during the first quarter worth around $31,000. HITE Hedge Asset Management LLC bought a new position in Berry stock during Q1 worth approximately $1,184,000. Goldman Sachs Group Inc. increased its position in Berry by 68.0% in the first quarter. Goldman Sachs Group Inc. now owns 140,361 shares of the energy company worth $1,449,000 after buying an additional 56,822 shares in the last quarter. Captrust Financial Advisors increased its stake in Berry shares to 78.2% in Q1. Captrust Financial Advisors now owns 4,857 shares of the energy company worth $50,000 after buying 2,131 additional shares in the last quarter. Finally, Invesco Ltd. increased its stake in Berry shares by 139.2% in the 1st quarter. Invesco Ltd. now owns 281,186 shares of the energy company worth $2,902,000 after purchasing an additional 163,615 shares in the last quarter. Institutional investors hold 92.68% of the company’s shares.
A number of brokerages have recently commented on BRY. Zacks Investment Research upgraded Berry from a “hold” rating to a “strong-buy” rating and set a target price of $12.00 on the stock in a Wednesday, May 18 report. Wells Fargo & Company raised its price target on Berry from $10.00 to $12.00 and gave the stock an “underweight” rating in a Monday, March 14 research note. Piper Sandler cut her price target on Berry shares to $15.00 and set an “na” rating for the company in a Wednesday, May 18 report. Finally, KeyCorp raised its price target on Berry shares from $12.00 to $13.00 and gave the company an “overweight” rating in a Thursday, April 14 report. One financial analyst gave the stock a sell rating, one issued a hold rating, two issued a buy rating and one gave the company a high buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $13.00.
About Berry (Get an assessment)
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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