Berry (NASDAQ:BRY) Stock Rating Upgraded by Weiss Ratings

Key Points

• Berry (NASDAQ:BRY) has been upgraded by Weiss Ratings from a "sell (d+)" to a "hold (c-)" rating, signaling a potential stabilization in its stock outlook.
• Despite the upgrade, other analysts have issued contrasting ratings, with Zacks Research downgrading Berry to a "strong sell" and Johnson Rice lowering its price target to $4.00.
• Berry's shares recently traded at $3.39, with a market cap of $263.05 million, after reporting a significant earnings surprise this quarter with $0.66 EPS compared to an expectation of $0.01.

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

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of Berry from a "hold" rating to a "strong sell" rating in a research note on Monday. 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 note on Tuesday, September 16th. Piper Sandler decreased 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. Finally, Wall Street Zen lowered shares of Berry from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Berry currently has an average rating of "Reduce" and a consensus price target of $4.00.

Berry Price Performance

Shares of NASDAQ:BRY traded down $0.09 during trading on Friday, reaching $3.39. 432,549 shares of the company's stock traded hands, compared to its average volume of 1,170,365. The firm has a market cap of $263.05 million, a PE ratio of 48.43 and a beta of 1.20. Berry has a fifty-two week low of $2.11 and a fifty-two week high of $5.90. The company has a 50-day simple moving average of $3.48 and a 200-day simple moving average of $3.03. The company has a quick ratio of 0.83, a current 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 for the quarter, beating analysts' consensus estimates of $0.01 by $0.65. The firm had revenue of $210.08 million for the quarter, compared to analyst estimates of $155.00 million. Berry had a net margin of 0.60% and a return on equity of 5.27%. As a group, analysts predict that Berry will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Berry in the 3rd quarter worth approximately $185,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Berry by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,737,717 shares of the energy company's stock worth $10,458,000 after buying an additional 38,748 shares during the last quarter. CWM LLC increased its holdings in shares of Berry by 45.3% during the 3rd quarter. CWM LLC now owns 52,876 shares of the energy company's stock worth $200,000 after buying an additional 16,486 shares during the last quarter. World Investment Advisors acquired a new stake in shares of Berry during the 3rd quarter worth approximately $68,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Berry by 940.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,292 shares of the energy company's stock worth $31,000 after buying an additional 7,495 shares during the last quarter. 94.88% of the stock is owned by hedge funds and other institutional investors.

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.

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