In yesterday’s Wall Street session, Berry Corporation (NASDAQ:BRY) shares traded at $8.82, down -0.45% from the previous session.
5 analysts cover Berry Corporation (NASDAQ:BRY), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $9.00, we find $10.50. Given the previous closing price of $8.86, this indicates a potential upside of 18.51 percent. BRY stock price is now 6.07% away from the 50-day moving average and 1.98% away from the 200-day moving average. The market capitalization of the company currently stands at $678.61M.
The stock has received a hold rating from 2 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $11.00 as their price target over the next twelve months.
With the price target of $10, Jefferies recently initiated with Buy rating for Berry Corporation (NASDAQ: BRY). On April 07, 2022, Piper Sandler Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock increasing its target price from $11 to quote $14, while ‘KeyBanc Capital Markets’ rates the stock as ‘Overweight’.
In other news, OAKTREE CAPITAL MANAGEMENT LP, 10% Owner sold 1,000,000 shares of the company’s stock on Nov 08. The stock was sold for $9,603,600 at an average price of $9.60. Upon completion of the transaction, the 10% Owner now directly owns 6,797,000 shares in the company, valued at $59.95 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 08, 10% Owner Oaktree Value Opportunities Fu sold 1,000,000 shares of the business’s stock. A total of $9,603,600 was realized by selling the stock at an average price of $9.60. This leaves the insider owning 6,797,000 shares of the company worth $59.95 million. Insiders disposed of 12,584,611 shares of company stock worth roughly $111.0 million over the past 1 year. A total of 10.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BRY stock. A new stake in Berry Corporation shares was purchased by DYNAMIC TECHNOLOGY LAB PRIVATE LTD during the first quarter worth $1,232,000. TWO SIGMA INVESTMENTS, LP invested $917,000 in shares of BRY during the first quarter. In the first quarter, VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in Berry Corporation valued at approximately $572,000. SCHONFELD STRATEGIC ADVISORS LLC acquired a new stake in BRY for approximately $153,000. DELPHIA (USA) INC. purchased a new stake in BRY valued at around $114,000 in the second quarter. In total, there are 228 active investors with 99.80% ownership of the company’s stock.
On Wednesday morning Berry Corporation (NASDAQ: BRY) stock kicked off with the opening price of $8.77. During the past 12 months, Berry Corporation has had a low of $6.10 and a high of $11.41. As of last week, the company has a debt-to-equity ratio of 0.51, a current ratio of 1.00, and a quick ratio of 1.00. The fifty day moving average price for BRY is $8.65 and a two-hundred day moving average price translates $9.44 for the stock.
The latest earnings results from Berry Corporation (NASDAQ: BRY) was released for Jun, 2022. According to the Oil & Gas E&P Company, earnings per share came in at $0.64, missing analysts’ expectations of $0.65 by -0.01. This compares to $0.12 EPS in the same period last year. The net profit margin was 20.10% and return on equity was 27.40% for BRY. The company reported revenue of $376.45 million for the quarter, compared to $143.41 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 162.49 percent. For the current quarter, analysts expect BRY to generate $213.37M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/28/2022. Investors who held shares on 11/15/2022 were paid a $0.47 dividend. On an annualized basis, this represents a $0.24 dividend and a 2.72% percent yield. There was an ex-dividend date of 11/14/2022 for this dividend. In terms of dividend payout ratio, BRY is presently at 7.50%.
Berry Corporation(BRY) Company Profile
Berry Corporation, an independent upstream energy company, engages in the development and production of conventional oil reserves located in the western United States. It operates in two segments, Development and Production, and Well Servicing and Abandonment. The company’s properties are located in the San Joaquin and Ventura basins, California; and Uinta basin, Utah. As of December 31, 2021, it had a total of 3,417 net productive wells. The company was formerly known as Berry Petroleum Corporation and changed its name to Berry Corporation in February 2020. Berry Corporation was founded in 1909 and is headquartered in Dallas, Texas.