Berry (NASDAQ:BRY) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Berry (NASDAQ:BRY) issued its quarterly earnings data on Thursday. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01), Briefing.com reports. Berry had a positive return on equity of 6.69% and a negative net margin of 4.19%. The company had revenue of $259.80 million for the quarter, compared to analysts’ expectations of $186.67 million. During the same period last year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 31.3% on a year-over-year basis.

Berry Price Performance

Shares of NASDAQ:BRY traded down $0.51 on Friday, hitting $4.55. The company’s stock had a trading volume of 1,891,468 shares, compared to its average volume of 1,048,023. The company has a market capitalization of $350.08 million, a PE ratio of -10.74 and a beta of 1.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.62 and a quick ratio of 0.62. The company has a 50-day simple moving average of $5.33 and a 200 day simple moving average of $6.29. Berry has a 1 year low of $4.49 and a 1 year high of $8.88.

Berry Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 15th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, November 15th. Berry’s payout ratio is -111.63%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price objective on shares of Berry from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th.

Insider Transactions at Berry

In other news, CEO Fernando Araujo sold 33,950 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $6.22, for a total transaction of $211,169.00. Following the sale, the chief executive officer now owns 253,045 shares in the company, valued at approximately $1,573,939.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.

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.