Berry Petroleum Company LLC (NYSE:BRY) has been given an average rating of “Buy” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.67.
Several research firms recently issued reports on BRY. Capital One Financial began coverage on Berry Petroleum in a research report on Friday, August 24th. They issued an “overweight” rating and a $24.00 target price on the stock. Evercore ISI began coverage on Berry Petroleum in a research report on Friday, August 24th. They issued an “outperform” rating and a $18.00 target price on the stock. Tudor Pickering began coverage on Berry Petroleum in a research report on Tuesday, August 21st. They issued a “buy” rating on the stock. Johnson Rice began coverage on Berry Petroleum in a research report on Monday, August 20th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Wells Fargo & Co began coverage on Berry Petroleum in a research report on Monday, August 20th. They issued an “outperform” rating and a $17.00 target price on the stock.
In other Berry Petroleum news, major shareholder Goldman Sachs Asset Management sold 516,373 shares of the company’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $13.16, for a total value of $6,795,468.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Gary A. Grove purchased 10,000 shares of the stock in a transaction on Monday, July 30th. The stock was acquired at an average cost of $13.60 per share, for a total transaction of $136,000.00. The disclosure for this purchase can be found here.
Berry Petroleum (NYSE:BRY) last released its earnings results on Wednesday, August 22nd. The energy company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.22). The company had revenue of $65.98 million during the quarter, compared to analysts’ expectations of $118.50 million.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Saturday, September 15th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.05%. This is an increase from Berry Petroleum’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, September 13th. Berry Petroleum’s dividend payout ratio is presently 11.21%.
Berry Petroleum 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.
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