Bank of New York Mellon Corp Purchases 214,344 Shares of Berry Corporation (NASDAQ:BRY)

Key Points

• Bank of New York Mellon Corp increased its holdings in Berry Corporation (NASDAQ:BRY) by 41.2%, owning approximately $2.36 million worth of shares as of the latest reporting period.
• Berry's stock showed positive performance, rising 11.0% recently, with a current trading price of $3.33 per share.
• The company announced a quarterly dividend of $0.03 per share, reflecting an annualized yield of 3.60% amidst a -25.53% dividend payout ratio.

Bank of New York Mellon Corp increased its stake in shares of Berry Corporation (NASDAQ:BRY - Free Report) by 41.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 734,297 shares of the energy company's stock after buying an additional 214,344 shares during the quarter. Bank of New York Mellon Corp owned about 0.95% of Berry worth $2,357,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BRY. Cambridge Investment Research Advisors Inc. bought a new position in shares of Berry in the 1st quarter valued at $34,000. Meeder Asset Management Inc. lifted its holdings in Berry by 54.9% during the 4th quarter. Meeder Asset Management Inc. now owns 12,114 shares of the energy company's stock worth $50,000 after buying an additional 4,294 shares during the period. Virtus Fund Advisers LLC acquired a new position in Berry during the 4th quarter worth about $56,000. RPO LLC acquired a new position in Berry during the 4th quarter worth about $62,000. Finally, Two Sigma Securities LLC bought a new stake in Berry in the 4th quarter valued at about $79,000. Institutional investors and hedge funds own 94.88% of the company's stock.

Wall Street Analysts Forecast Growth

BRY has been the subject of a number of research analyst reports. Piper Sandler decreased their target price on Berry from $5.00 to $4.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Johnson Rice raised Berry from an "accumulate" rating to a "buy" rating in a report on Wednesday, May 21st.

Berry Stock Performance

NASDAQ BRY traded down $0.17 on Friday, hitting $2.85. 341,935 shares of the stock traded hands, compared to its average volume of 1,040,770. The firm has a market capitalization of $221.32 million, a price-to-earnings ratio of -6.07 and a beta of 1.09. The business's fifty day moving average is $2.95 and its two-hundred day moving average is $3.27. Berry Corporation has a 12 month low of $2.11 and a 12 month high of $6.64. 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 (NASDAQ:BRY - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Berry had a positive return on equity of 7.36% and a negative net margin of 4.51%. The firm had revenue of $182.65 million for the quarter, compared to the consensus estimate of $177.00 million. As a group, equities analysts anticipate that Berry Corporation will post 0.58 EPS for the current fiscal year.

Berry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, May 19th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Monday, May 19th. Berry's dividend payout ratio (DPR) is -25.53%.

Berry 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.