Berry Co. (NASDAQ:BRY) Announces Quarterly Dividend of $0.03

Berry Co. (NASDAQ:BRY) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.03 per share by the energy company on Monday, November 25th. This represents a $0.12 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Friday, November 15th.

Berry has raised its dividend payment by an average of 51.8% per year over the last three years. Berry has a dividend payout ratio of 87.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Berry to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 81.4%.

Berry Trading Down 10.1 %

Shares of NASDAQ:BRY opened at $4.55 on Friday. Berry has a twelve month low of $4.49 and a twelve month high of $8.88. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. The firm has a market cap of $350.07 million, a P/E ratio of 4.21 and a beta of 1.72. The company has a 50 day moving average of $5.30 and a 200-day moving average of $6.26.

Berry (NASDAQ:BRY) last announced its quarterly earnings data 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). The business had revenue of $259.80 million during the quarter, compared to analyst estimates of $186.67 million. Berry had a positive return on equity of 6.69% and a negative net margin of 4.19%. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. As a group, analysts anticipate that Berry will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In other Berry news, CEO Fernando Araujo sold 33,950 shares of the stock in a transaction 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 directly owns 253,045 shares in the company, valued at $1,573,939.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price target on Berry from $8.00 to $7.00 and set a “neutral” rating for the company 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.