Berry Petroleum Company LLC (NASDAQ:BRY) Receives Average Recommendation of “Buy” from Brokerages

Shares of Berry Petroleum Company LLC (NASDAQ:BRY) have been given an average rating of “Buy” by the twelve brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $16.29.

Several research firms have weighed in on BRY. UBS Group set a $14.00 price objective on Berry Petroleum and gave the stock a “buy” rating in a report on Thursday, June 20th. Zacks Investment Research cut Berry Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Capital One Financial upgraded Berry Petroleum from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd.

In other news, Director Benefit Street Partners Llc sold 5,085,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $9.84, for a total value of $50,036,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.59% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Benefit Street Partners LLC lifted its stake in shares of Berry Petroleum by 27.9% in the 1st quarter. Benefit Street Partners LLC now owns 23,771,620 shares of the energy company’s stock valued at $274,325,000 after purchasing an additional 5,182,929 shares during the period. FMR LLC lifted its stake in shares of Berry Petroleum by 6.7% in the 1st quarter. FMR LLC now owns 8,396,001 shares of the energy company’s stock valued at $96,890,000 after purchasing an additional 524,838 shares during the period. Oaktree Capital Management LP purchased a new position in shares of Berry Petroleum in the 1st quarter valued at approximately $90,090,000. CarVal Investors LLC lifted its stake in shares of Berry Petroleum by 1.8% in the 1st 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. Finally, BlackRock Inc. lifted its stake in shares of Berry Petroleum by 9.3% in the 4th quarter. BlackRock Inc. now owns 1,236,750 shares of the energy company’s stock valued at $10,822,000 after purchasing an additional 105,309 shares during the period.

NASDAQ BRY traded up $0.09 on Monday, hitting $8.59. The company’s stock had a trading volume of 1,092,881 shares, compared to its average volume of 472,257. Berry Petroleum has a 52-week low of $7.87 and a 52-week high of $18.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50-day simple moving average is $10.10. The firm has a market capitalization of $725.45 million and a price-to-earnings ratio of 6.82.

Berry Petroleum (NASDAQ:BRY) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.11). Berry Petroleum had a return on equity of 12.66% and a net margin of 24.87%. The business had revenue of $170.07 million during the quarter, compared to analysts’ expectations of $148.70 million. As a group, sell-side analysts anticipate that Berry Petroleum will post 1.45 earnings per share for the current fiscal year.

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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Analyst Recommendations for Berry Petroleum (NASDAQ:BRY)

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