Quadrature Capital Ltd Sells 19,618 Shares of Berry Co. (NASDAQ:BRY)

Quadrature Capital Ltd decreased its position in shares of Berry Co. (NASDAQ:BRY) by 30.1% during the third quarter, Holdings Channel.com reports. The fund owned 45,493 shares of the energy company’s stock after selling 19,618 shares during the quarter. Quadrature Capital Ltd’s holdings in Berry were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Berry by 16.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,664 shares of the energy company’s stock valued at $175,000 after purchasing an additional 2,999 shares during the period. Comerica Bank bought a new stake in Berry during the first quarter valued at about $146,000. CWM LLC raised its holdings in Berry by 287.4% during the second quarter. CWM LLC now owns 4,560 shares of the energy company’s stock valued at $29,000 after acquiring an additional 3,383 shares during the period. SG Americas Securities LLC boosted its stake in shares of Berry by 611.7% in the second quarter. SG Americas Securities LLC now owns 76,265 shares of the energy company’s stock worth $493,000 after acquiring an additional 65,549 shares during the period. Finally, Diversified Trust Co grew its position in shares of Berry by 14.4% during the second quarter. Diversified Trust Co now owns 24,615 shares of the energy company’s stock worth $159,000 after purchasing an additional 3,101 shares in the last quarter. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price target on Berry from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Monday, November 18th.

Berry Stock Performance

Shares of NASDAQ BRY opened at $4.32 on Wednesday. The company has a market cap of $332.38 million, a P/E ratio of 4.00 and a beta of 1.68. Berry Co. has a 52-week low of $3.87 and a 52-week high of $8.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s fifty day moving average is $4.76 and its two-hundred day moving average is $5.69.

Berry (NASDAQ:BRY) last issued its earnings results on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Berry had a return on equity of 6.50% and a net margin of 9.40%. The firm had revenue of $259.80 million during the quarter, compared to the consensus estimate of $186.67 million. During the same period last year, the firm posted $0.15 earnings per share. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, analysts anticipate that Berry Co. will post 0.6 EPS for the current fiscal year.

Berry Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, November 15th. This represents a $0.12 annualized dividend and a dividend yield of 2.78%. Berry’s dividend payout ratio (DPR) is 11.11%.

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.