Berry (NASDAQ:BRY) Posts Quarterly Earnings Results

Berry (NASDAQ:BRY) announced its quarterly earnings data on Thursday. The energy company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01), Briefing.com reports. The business had revenue of $259.80 million during the quarter, compared to the consensus estimate of $186.67 million. Berry had a positive return on equity of 6.69% and a negative net margin of 4.19%. The company’s revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share.

Berry Trading Down 10.1 %

Shares of Berry stock traded down $0.51 during trading on Friday, reaching $4.55. 2,048,251 shares of the stock were exchanged, compared to its average volume of 1,048,285. Berry has a 1 year low of $4.49 and a 1 year high of $8.88. The firm has a market cap of $350.07 million, a price-to-earnings ratio of 4.21 and a beta of 1.72. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average is $5.33 and its 200 day moving average is $6.29.

Berry Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, November 15th. Berry’s payout ratio is 11.11%.

Insiders Place Their Bets

In related news, CEO Fernando Araujo sold 33,950 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $6.22, for a total transaction of $211,169.00. Following the completion of the transaction, the chief executive officer now owns 253,045 shares of the company’s stock, valued at $1,573,939.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their price objective on Berry from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

Berry 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.