Berry Petroleum Company LLC (NASDAQ:BRY) – Investment analysts at Capital One Financial increased their FY2020 earnings per share (EPS) estimates for Berry Petroleum in a research note issued on Thursday, May 23rd. Capital One Financial analyst B. Velie now anticipates that the energy company will post earnings of $1.87 per share for the year, up from their prior forecast of $1.86. Capital One Financial currently has a “Overweight” rating on the stock.
Several other research firms have also issued reports on BRY. ValuEngine raised Berry Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. Zacks Investment Research raised Berry Petroleum from a “strong sell” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $12.00 price target on shares of Berry Petroleum in a research report on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $17.13.
Berry Petroleum (NASDAQ:BRY) last posted its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.01). The firm had revenue of $76.54 million for the quarter, compared to analyst estimates of $146.13 million. Berry Petroleum had a net margin of 18.84% and a return on equity of 13.15%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its position in Berry Petroleum by 6.7% in the first quarter. FMR LLC now owns 8,396,001 shares of the energy company’s stock worth $96,890,000 after buying an additional 524,838 shares during the period. Oaktree Capital Management LP acquired a new position in shares of Berry Petroleum during the first quarter valued at $90,090,000. CarVal Investors LLC increased its holdings in shares of Berry Petroleum by 1.8% during the first quarter. CarVal Investors LLC now owns 6,745,113 shares of the energy company’s stock valued at $77,839,000 after purchasing an additional 120,751 shares during the period. Venor Capital Management LP increased its holdings in shares of Berry Petroleum by 10.3% during the fourth quarter. Venor Capital Management LP now owns 3,412,702 shares of the energy company’s stock valued at $29,861,000 after purchasing an additional 318,861 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Berry Petroleum by 155.8% during the first quarter. BlackRock Inc. now owns 3,163,091 shares of the energy company’s stock valued at $36,501,000 after purchasing an additional 1,926,341 shares during the period.
In other Berry Petroleum news, Director Benefit Street Partners Llc sold 76,512 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $11.59, for a total value of $886,774.08. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.59% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.44%. The ex-dividend date is Thursday, June 13th. Berry Petroleum’s dividend payout ratio is presently 38.10%.
About Berry Petroleum
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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