Charles Schwab Investment Management Inc. Raises Position in Berry Corporation $BRY

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Berry Corporation by 22.5% during Q1, acquiring an additional 283,940 shares, bringing their total holdings to 1,543,544 shares valued at approximately $4.95 million.
• Berry Corporation reported earnings of $0.66 per share for Q2, significantly surpassing the consensus estimate of $0.01, along with revenues of $210.08 million compared to the expected $155 million.
• The company has declared a quarterly dividend of $0.03, resulting in an annualized dividend yield of 3.7%, despite a high payout ratio of 171.43%.

Charles Schwab Investment Management Inc. lifted its stake in shares of Berry Corporation (NASDAQ:BRY - Free Report) by 22.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,543,544 shares of the energy company's stock after purchasing an additional 283,940 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.99% of Berry worth $4,955,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BRY. Cambridge Investment Research Advisors Inc. bought a new position in Berry in the 1st quarter valued at about $34,000. PNC Financial Services Group Inc. lifted its position in Berry by 130.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,869 shares of the energy company's stock valued at $38,000 after acquiring an additional 6,722 shares in the last quarter. R Squared Ltd lifted its position in Berry by 103.3% in the 1st quarter. R Squared Ltd now owns 14,050 shares of the energy company's stock valued at $45,000 after acquiring an additional 7,140 shares in the last quarter. CWM LLC lifted its position in Berry by 51.1% in the 1st quarter. CWM LLC now owns 16,398 shares of the energy company's stock valued at $53,000 after acquiring an additional 5,547 shares in the last quarter. Finally, Virtus Fund Advisers LLC bought a new position in Berry in the 4th quarter valued at about $56,000. Institutional investors own 94.88% of the company's stock.

Berry Stock Up 1.8%

NASDAQ:BRY traded up $0.06 on Monday, hitting $3.34. The stock had a trading volume of 627,428 shares, compared to its average volume of 825,731. 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 stock has a market cap of $259.18 million, a P/E ratio of 47.71 and a beta of 1.24. Berry Corporation has a 1 year low of $2.11 and a 1 year high of $6.34. The firm's fifty day simple moving average is $3.02 and its two-hundred day simple moving average is $3.01.

Berry (NASDAQ:BRY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.01 by $0.65. The firm had revenue of $210.08 million during 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%. Analysts predict that Berry Corporation will post 0.58 earnings per share for the current year.

Berry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were paid a $0.03 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.12 annualized dividend and a yield of 3.6%. Berry's dividend payout ratio (DPR) is 171.43%.

Analyst Ratings Changes

BRY has been the topic of several recent research reports. Piper Sandler dropped their price target on shares of Berry from $5.00 to $4.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Johnson Rice raised shares of Berry from an "accumulate" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, Wall Street Zen cut shares of Berry from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.