Berry (NASDAQ:BRY) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Berry (NASDAQ:BRY) posted its earnings results on Wednesday. The energy company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09, Zacks reports. Berry had a return on equity of 6.50% and a net margin of 9.40%.

Berry Price Performance

NASDAQ:BRY traded up $0.11 during trading hours on Wednesday, reaching $3.64. 967,417 shares of the company traded hands, compared to its average volume of 1,081,563. Berry has a 1-year low of $3.36 and a 1-year high of $8.88. The stock has a market cap of $280.06 million, a P/E ratio of 3.37 and a beta of 1.67. The firm’s 50-day moving average is $4.34 and its 200-day moving average is $4.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80.

Wall Street Analyst Weigh In

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

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.