Berry (NASDAQ:BRY) Rating Lowered to "Sell (D+)" at Weiss Ratings

Key Points

• Berry (NASDAQ:BRY) has been downgraded by Weiss Ratings from a "hold (c-)" to a "sell (d+)" rating, reflecting growing concerns among analysts regarding the company's performance.
• The stock currently trades at $3.78, with a one-year low of $2.11 and a high of $5.90, indicating significant volatility in its price over the past year.
• Berry reported $0.66 earnings per share (EPS) for the last quarter, significantly beating expectations, yet analysts anticipate a lower EPS of 0.58 for the current fiscal year.

Berry (NASDAQ:BRY - Get Free Report) was downgraded by research analysts at Weiss Ratings from a "hold (c-)" rating to a "sell (d+)" rating in a note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded Berry from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Johnson Rice lowered shares of Berry from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research report on Tuesday, September 16th. Finally, Piper Sandler reduced their price target on shares of Berry from $5.00 to $4.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $4.00.

Berry Price Performance

Shares of Berry stock traded down $0.01 during trading on Wednesday, reaching $3.78. The company's stock had a trading volume of 832,664 shares, compared to its average volume of 1,193,445. Berry has a one year low of $2.11 and a one year high of $5.90. The stock has a 50-day moving average price of $3.34 and a two-hundred day moving average price of $2.99. The stock has a market capitalization of $293.33 million, a P/E ratio of 54.00 and a beta of 1.20. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55.

Berry (NASDAQ:BRY - Get Free Report) last issued its quarterly earnings results 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 return on equity of 5.27% and a net margin of 0.60%.The business had revenue of $210.08 million for the quarter, compared to analyst estimates of $155.00 million. As a group, sell-side analysts anticipate that Berry will post 0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Berry

Several large investors have recently added to or reduced their stakes in BRY. Rhumbline Advisers grew its stake in Berry by 8.5% during the first quarter. Rhumbline Advisers now owns 151,809 shares of the energy company's stock worth $487,000 after purchasing an additional 11,892 shares during the period. Wedge Capital Management L L P NC increased its position in Berry by 14.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 116,502 shares of the energy company's stock valued at $374,000 after buying an additional 14,317 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Berry in the 1st quarter valued at about $238,000. Cambridge Investment Research Advisors Inc. bought a new stake in Berry in the 1st quarter valued at about $34,000. Finally, Bank of New York Mellon Corp increased its position in Berry by 41.2% in the 1st quarter. Bank of New York Mellon Corp now owns 734,297 shares of the energy company's stock valued at $2,357,000 after buying an additional 214,344 shares in the last quarter. Institutional investors and hedge funds own 94.88% of the company's stock.

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.

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