Berry Petroleum (NASDAQ:BRY) Stock Rating Lowered by Zacks Investment Research

Berry Petroleum (NASDAQ:BRY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Berry Petroleum Corporation is an energy company. It engaged in the acquisition, exploration, development and production of domestic oil and natural gas reserves primarily located in the San Joaquin Basin in California, the Uinta Basin in Utah, the Piceance Basin in Colorado and the East Texas Basin in Texas. Berry Petroleum Corporation is based in Bakersfield, CA. “

Several other analysts have also commented on the company. Wells Fargo & Co cut their price objective on Berry Petroleum from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Friday. ValuEngine lowered Berry Petroleum from a “sell” rating to a “strong sell” rating in a report on Monday, March 9th. Piper Sandler lowered Berry Petroleum from an “overweight” rating to a “neutral” rating and set a $4.50 price objective for the company. in a report on Monday, March 9th. UBS Group cut their price objective on Berry Petroleum from $12.00 to $4.50 and set a “buy” rating for the company in a report on Tuesday, March 31st. Finally, KeyCorp raised Berry Petroleum from an “underweight” rating to a “sector weight” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Berry Petroleum has a consensus rating of “Hold” and a consensus target price of $6.59.

Shares of Berry Petroleum stock traded up $0.02 on Monday, reaching $2.26. The company’s stock had a trading volume of 557,500 shares, compared to its average volume of 843,308. The company has a market capitalization of $178.58 million, a price-to-earnings ratio of 4.26 and a beta of 2.75. The firm’s fifty day simple moving average is $4.36 and its two-hundred day simple moving average is $7.82. Berry Petroleum has a 52 week low of $1.82 and a 52 week high of $13.29. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.41.

Berry Petroleum (NASDAQ:BRY) last posted its earnings results on Wednesday, February 26th. The energy company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The business had revenue of $118.13 million during the quarter, compared to analyst estimates of $174.30 million. Berry Petroleum had a return on equity of 11.42% and a net margin of 7.78%. As a group, research analysts predict that Berry Petroleum will post 0.85 EPS for the current year.

Several institutional investors have recently made changes to their positions in BRY. Marshall Wace North America L.P. purchased a new position in shares of Berry Petroleum in the first quarter valued at about $63,000. Metropolitan Life Insurance Co NY purchased a new stake in shares of Berry Petroleum in the first quarter worth about $216,000. State Street Corp lifted its position in shares of Berry Petroleum by 4.2% in the third quarter. State Street Corp now owns 1,232,287 shares of the energy company’s stock worth $11,679,000 after buying an additional 49,322 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Berry Petroleum by 85.6% in the third quarter. Point72 Asset Management L.P. now owns 11,638 shares of the energy company’s stock worth $109,000 after buying an additional 5,366 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its position in shares of Berry Petroleum by 239.3% in the third quarter. Voloridge Investment Management LLC now owns 46,525 shares of the energy company’s stock worth $435,000 after buying an additional 32,813 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company’s stock.

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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