Berry (NASDAQ:BRY) Issues Earnings Results

Berry (NASDAQ:BRY) released its earnings results on Thursday. The energy company reported $0.14 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $186.67 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year.

Berry Trading Down 10.1 %

Shares of BRY traded down $0.51 on Friday, hitting $4.55. 1,410,351 shares of the stock traded hands, compared to its average volume of 1,045,806. The firm has a market capitalization of $350.08 million, a P/E ratio of -10.74 and a beta of 1.72. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. Berry has a 1 year low of $4.49 and a 1 year high of $8.88. The stock’s 50 day moving average is $5.33 and its two-hundred day moving average is $6.29.

Berry Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 15th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, November 15th. Berry’s dividend payout ratio is presently -111.63%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered 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, August 15th.

Insider Buying and Selling at Berry

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