Stocks of Berry Corporation (NASDAQ:BRY) traded higher last session on Wall Street, up 2.57% to $8.79.
BRY stock price is now 14.32% away from the 50-day moving average and 13.13% away from the 200-day moving average. The market capitalization of the company currently stands at $648.44M.
With the price target maintained at $9, Piper Sandler recently Downgraded its rating from Overweight to Neutral for Berry Corporation (NASDAQ: BRY).
In other news, Smith Arthur T., Executive Chairman sold 81,365 shares of the company’s stock on Aug 18. The stock was sold for $673,694 at an average price of $8.28. Upon completion of the transaction, the Executive Chairman now directly owns 514,180 shares in the company, valued at $4.52 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 18, President Hunter Danielle E. sold 10,000 shares of the business’s stock. A total of $82,500 was realized by selling the stock at an average price of $8.25. This leaves the insider owning 163,757 shares of the company worth $1.44 million. Insiders disposed of 10,335,944 shares of company stock worth roughly $90.85 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 ROYCE & ASSOCIATES LP during the first quarter worth $3,623,000. EA SERIES TRUST invested $2,320,000 in shares of BRY during the first quarter. In the first quarter, EMPOWERED FUNDS, LLC acquired a new stake in Berry Corporation valued at approximately $2,320,000. WEDGE CAPITAL MANAGEMENT L L P/NC acquired a new stake in BRY for approximately $994,000. PDT PARTNERS, LLC purchased a new stake in BRY valued at around $723,000 in the second quarter. In total, there are 215 active investors with 97.19% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $8.67 for Berry Corporation (NASDAQ: BRY). During the past 12 months, Berry Corporation has had a low of $6.22 and a high of $10.15. As of last week, the company has a debt-to-equity ratio of 0.55, a current ratio of 0.90, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $1.08B, which is based on a 2.52 price-to-earnings ratio, a 0.17 price-to-earnings-growth ratio, and a beta of 2.16. The fifty day moving average price for BRY is $7.74 and a two-hundred day moving average price translates $7.97 for the stock.
The latest earnings results from Berry Corporation (NASDAQ: BRY) was released for Jun, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0.15, beating analysts’ expectations of -$0.02 by 0.17. This compares to $0.52 EPS in the same period last year. The net profit margin was 26.90% and return on equity was 36.80% for BRY. The company reported revenue of $229.36 million for the quarter, compared to $253.13 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -9.39 percent. For the current quarter, analysts expect BRY to generate $177.73M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/25/2023. Investors who held shares on 08/15/2023 were paid a $0.14 dividend. On an annualized basis, this represents a $0.48 dividend and a 5.46% percent yield. There was an ex-dividend date of 08/14/2023 for this dividend. In terms of dividend payout ratio, BRY is presently at 31.40%.
Berry Corporation(BRY) Company Profile
Berry Corporation, an independent upstream energy company, engages in the development and production of conventional oil reserves in the western United States. It operates through Exploration and Production (E&P), and Well Servicing and Abandonment (CJWS) segments. The E&P segment engages in the development and production of onshore, low geologic risk, and long-lived conventional oil and gas reserves primarily located in California and Utah. CJWS provides wellsite services in California to oil and natural gas production companies with a focus on well servicing, well abandonment services, and water logistics; and offers rig-based and coiled tubing-based well maintenance and workover services, recompletion services, fluid management services, fishing and rental services, and other ancillary oilfield services. The company was founded in 1909 and is headquartered in Dallas, Texas.
