Acadian Asset Management LLC Has $3.73 Million Holdings in Berry Corporation $BRY

Key Points

• Acadian Asset Management LLC increased its stake in Berry Corporation (NASDAQ:BRY) by 82.8%, now owning over 1.16 million shares worth approximately $3.73 million.
• Berry reported earnings of $0.66 per share, significantly surpassing the expected $0.01, with total revenue of $210.08 million for the quarter.
• A recent quarterly dividend of $0.03 per share was issued, reflecting a 3.6% yield, although the company's dividend payout ratio stands at a high 171.43%.

Acadian Asset Management LLC grew its stake in Berry Corporation (NASDAQ:BRY - Free Report) by 82.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,164,123 shares of the energy company's stock after acquiring an additional 527,463 shares during the quarter. Acadian Asset Management LLC owned 1.50% of Berry worth $3,731,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BRY. Vanguard Group Inc. increased its stake in shares of Berry by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 6,699,963 shares of the energy company's stock valued at $21,507,000 after acquiring an additional 719,845 shares during the last quarter. Millennium Management LLC increased its stake in shares of Berry by 130.2% in the 4th quarter. Millennium Management LLC now owns 902,743 shares of the energy company's stock valued at $3,728,000 after acquiring an additional 510,512 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Berry by 46.6% in the 1st quarter. AQR Capital Management LLC now owns 1,396,710 shares of the energy company's stock valued at $4,483,000 after acquiring an additional 444,155 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Berry in the 4th quarter valued at about $1,660,000. Finally, Squarepoint Ops LLC increased its stake in shares of Berry by 2,102.3% in the 4th quarter. Squarepoint Ops LLC now owns 402,513 shares of the energy company's stock valued at $1,662,000 after acquiring an additional 384,236 shares during the last quarter. 94.88% of the stock is owned by institutional investors.

Berry Stock Down 4.4%

NASDAQ BRY traded down $0.18 during trading hours on Friday, reaching $3.90. 3,179,488 shares of the company's stock were exchanged, compared to its average volume of 2,197,217. The company's 50-day moving average is $3.16 and its two-hundred day moving average is $2.96. Berry Corporation has a one year low of $2.11 and a one year high of $5.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $302.64 million, a price-to-earnings ratio of 55.71 and a beta of 1.24.

Berry (NASDAQ:BRY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The energy company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.65. Berry had a return on equity of 5.27% and a net margin of 0.60%.The firm had revenue of $210.08 million during the quarter, compared to the consensus estimate of $155.00 million. On average, analysts forecast that Berry Corporation will post 0.58 EPS for the current fiscal year.

Berry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.12 dividend on an annualized basis and a yield of 3.1%. Berry's dividend payout ratio is 171.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BRY shares. Wall Street Zen cut Berry from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Piper Sandler lowered their price target on Berry from $5.00 to $4.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Finally, Johnson Rice cut Berry from a "buy" rating to a "hold" rating and set a $4.00 target price for the company. in a research note on Tuesday. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $4.00.

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.