Berry Co. (NASDAQ:BRY) to Post Q3 2024 Earnings of $0.23 Per Share, Capital One Financial Forecasts

Berry Co. (NASDAQ:BRY) – Investment analysts at Capital One Financial cut their Q3 2024 earnings estimates for Berry in a research report issued on Thursday, August 15th. Capital One Financial analyst B. Velie now expects that the energy company will post earnings per share of $0.23 for the quarter, down from their previous forecast of $0.28. The consensus estimate for Berry’s current full-year earnings is $0.84 per share. Capital One Financial also issued estimates for Berry’s Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $0.82 EPS, Q1 2025 earnings at $0.30 EPS, Q2 2025 earnings at $0.32 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.38 EPS and FY2025 earnings at $1.36 EPS.

Berry (NASDAQ:BRY) last announced its earnings results on Friday, August 9th. The energy company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $197.80 million for the quarter, compared to analyst estimates of $187.38 million. Berry had a net margin of 0.41% and a return on equity of 6.15%. Berry’s revenue was down 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 EPS.

Separately, Piper Sandler dropped their target price on shares of Berry from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday.

Berry Stock Up 0.5 %

NASDAQ BRY opened at $6.58 on Friday. The business has a fifty day moving average price of $6.44 and a 200 day moving average price of $7.10. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $506.26 million, a P/E ratio of 658.00 and a beta of 1.77. Berry has a one year low of $5.63 and a one year high of $8.94.

Institutional Trading of Berry

Several large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Berry by 17.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,572 shares of the energy company’s stock valued at $145,000 after purchasing an additional 3,089 shares during the last quarter. Foundry Partners LLC raised its position in shares of Berry by 4.9% during the 4th quarter. Foundry Partners LLC now owns 711,750 shares of the energy company’s stock valued at $5,004,000 after buying an additional 33,309 shares during the period. New York State Common Retirement Fund lifted its holdings in Berry by 10.6% in the fourth quarter. New York State Common Retirement Fund now owns 79,560 shares of the energy company’s stock valued at $559,000 after acquiring an additional 7,634 shares during the last quarter. Bailard Inc. increased its stake in Berry by 29.9% during the fourth quarter. Bailard Inc. now owns 35,600 shares of the energy company’s stock worth $250,000 after acquiring an additional 8,200 shares during the last quarter. Finally, Truist Financial Corp raised its position in Berry by 23.5% in the fourth quarter. Truist Financial Corp now owns 48,014 shares of the energy company’s stock valued at $338,000 after purchasing an additional 9,124 shares during the period. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Berry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 7.29%. Berry’s dividend payout ratio (DPR) is presently 4,800.00%.

Berry Company Profile

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.