Berry (NASDAQ:BRY) Lifted to Overweight at KeyCorp

KeyCorp upgraded shares of Berry (NASDAQ:BRY) from a sector weight rating to an overweight rating in a report released on Wednesday, Analyst Price Targets reports. They currently have $9.00 price objective on the energy company’s stock. KeyCorp also issued estimates for Berry’s Q1 2021 earnings at $0.01 EPS, Q2 2021 earnings at ($0.13) EPS, Q3 2021 earnings at $0.03 EPS, Q4 2021 earnings at $0.04 EPS, FY2021 earnings at ($0.07) EPS, FY2021 earnings at ($0.05) EPS, Q1 2022 earnings at $0.36 EPS, Q2 2022 earnings at $0.37 EPS, Q3 2022 earnings at $0.40 EPS, Q4 2022 earnings at $0.40 EPS and FY2022 earnings at $1.53 EPS.

Several other analysts have also recently weighed in on BRY. Johnson Rice raised shares of Berry from an accumulate rating to a buy rating in a research note on Tuesday, March 9th. Zacks Investment Research lowered Berry from a buy rating to a hold rating in a research report on Friday, March 26th. Finally, Wells Fargo & Company downgraded Berry from an equal weight rating to an underweight rating and set a $5.00 price objective for the company. in a research report on Wednesday, December 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $6.25.

NASDAQ:BRY opened at $6.05 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $486.85 million, a PE ratio of -2.34 and a beta of 2.94. Berry has a 12-month low of $2.14 and a 12-month high of $6.69. The firm has a 50-day moving average price of $5.69 and a 200 day moving average price of $4.28.

Berry (NASDAQ:BRY) last released its quarterly earnings data on Wednesday, February 24th. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). Berry had a positive return on equity of 8.20% and a negative net margin of 35.49%. The company had revenue of $61.37 million for the quarter, compared to analyst estimates of $134.90 million. On average, research analysts expect that Berry will post 0.59 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Monday, March 15th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.64%. The ex-dividend date was Friday, March 12th. Berry’s dividend payout ratio is 11.85%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Berry during the fourth quarter valued at $47,000. Metropolitan Life Insurance Co NY acquired a new position in Berry during the 1st quarter valued at about $216,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Berry in the 1st quarter valued at about $63,000. 91.49% of the stock is owned by institutional investors.

About Berry

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 (NASDAQ:BRY)

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