Berry Corporation (NASDAQ:BRY) to Issue Quarterly Dividend of $0.03

Key Points

• Berry Corporation has declared a quarterly dividend of $0.03 per share, set to be paid on August 28th to stockholders of record as of August 18th, which reflects an annualized yield of 4.2%.
• The company reported a significant earnings surprise in its last quarterly results, posting $0.66 EPS, exceeding analysts' expectations of $0.01, along with revenues of $210.08 million against estimates of $155 million.
• Berry's stock has experienced volatility, trading down to $2.84, down $0.12 with a market cap of $220.38 million, and a price-to-earnings ratio of -6.04.

Berry Corporation (NASDAQ:BRY - Get Free Report) declared a quarterly dividend on Tuesday, August 5th, Wall Street Journal reports. Shareholders of record on Monday, August 18th will be given a dividend of 0.03 per share by the energy company on Thursday, August 28th. This represents a c) annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Monday, August 18th.

Berry Stock Performance

NASDAQ BRY traded down $0.03 during trading hours on Friday, hitting $2.81. The company had a trading volume of 683,451 shares, compared to its average volume of 939,043. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.88 and a current ratio of 0.88. Berry has a 1-year low of $2.11 and a 1-year high of $6.64. The company has a market cap of $218.06 million, a PE ratio of 40.14 and a beta of 1.12. The business has a 50 day moving average of $2.99 and a 200-day moving average of $3.18.

Berry (NASDAQ:BRY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.65. Berry had a net margin of 0.60% and a return on equity of 5.21%. The company had revenue of $210.08 million during the quarter, compared to the consensus estimate of $155.00 million. As a group, equities research analysts expect that Berry will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BRY. Piper Sandler reduced their target price on shares of Berry from $5.00 to $4.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Wall Street Zen cut shares of Berry from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Johnson Rice raised shares of Berry from an "accumulate" rating to a "buy" rating in a report on Wednesday, May 21st.

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.