Y Intercept Hong Kong Ltd Raises Stake in Berry Co. (NASDAQ:BRY)

Y Intercept Hong Kong Ltd lifted its holdings in shares of Berry Co. (NASDAQ:BRY) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,153 shares of the energy company’s stock after purchasing an additional 13,617 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.15% of Berry worth $612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in Berry by 16.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,664 shares of the energy company’s stock valued at $175,000 after acquiring an additional 2,999 shares during the period. Comerica Bank purchased a new position in Berry during the 1st quarter valued at about $146,000. CWM LLC boosted its holdings in Berry by 287.4% during the 2nd quarter. CWM LLC now owns 4,560 shares of the energy company’s stock valued at $29,000 after acquiring an additional 3,383 shares during the period. SG Americas Securities LLC boosted its holdings in Berry by 611.7% during the 2nd quarter. SG Americas Securities LLC now owns 76,265 shares of the energy company’s stock valued at $493,000 after acquiring an additional 65,549 shares during the period. Finally, Diversified Trust Co raised its position in Berry by 14.4% in the 2nd quarter. Diversified Trust Co now owns 24,615 shares of the energy company’s stock valued at $159,000 after purchasing an additional 3,101 shares in the last quarter. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Berry Trading Down 2.8 %

NASDAQ:BRY opened at $4.13 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $317.76 million, a PE ratio of 3.82 and a beta of 1.67. The stock’s 50 day moving average price is $4.70 and its 200 day moving average price is $5.64. Berry Co. has a 52-week low of $3.87 and a 52-week high of $8.88.

Berry (NASDAQ:BRY) last issued its earnings results on Thursday, November 7th. The energy company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $259.80 million during the quarter, compared to analyst estimates of $186.67 million. Berry had a return on equity of 6.50% and a net margin of 9.40%. The business’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. On average, research analysts anticipate that Berry Co. will post 0.6 EPS for the current year.

Berry Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.91%. Berry’s dividend payout ratio is currently 11.11%.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price target on Berry from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th.

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.