Cubist Systematic Strategies LLC Purchases Shares of 279,603 Berry Corporation $BRY

Key Points

• Cubist Systematic Strategies LLC acquired a new stake in Berry Corporation (NASDAQ:BRY) with 279,603 shares, valued at approximately $898,000, representing 0.36% ownership at the end of the last quarter.
• Berry Corporation recently reported quarterly earnings of $0.66 per share, significantly exceeding the consensus estimate of $0.01, with revenue reaching $210.08 million.
• The company declared a quarterly dividend of $0.03 per share, translating to an annualized dividend of 3.8% yield, although its dividend payout ratio is high at 171.43%.

Cubist Systematic Strategies LLC acquired a new position in Berry Corporation (NASDAQ:BRY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 279,603 shares of the energy company's stock, valued at approximately $898,000. Cubist Systematic Strategies LLC owned approximately 0.36% of Berry as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Graham Capital Management L.P. boosted its stake in Berry by 49.8% in the first quarter. Graham Capital Management L.P. now owns 231,499 shares of the energy company's stock worth $743,000 after purchasing an additional 76,930 shares in the last quarter. State of Wyoming boosted its stake in Berry by 140.3% in the first quarter. State of Wyoming now owns 67,024 shares of the energy company's stock worth $215,000 after purchasing an additional 39,131 shares in the last quarter. FORA Capital LLC acquired a new position in Berry in the first quarter worth $38,000. Virtus Advisers LLC boosted its stake in Berry by 582.0% in the first quarter. Virtus Advisers LLC now owns 222,934 shares of the energy company's stock worth $716,000 after purchasing an additional 190,244 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Berry in the first quarter worth $475,000. Institutional investors and hedge funds own 94.88% of the company's stock.

Berry Stock Performance

BRY traded up $0.70 during trading on Monday, hitting $4.01. The stock had a trading volume of 15,604,435 shares, compared to its average volume of 976,971. The company has a 50 day moving average price of $3.10 and a 200-day moving average price of $2.94. The firm has a market cap of $311.18 million, a price-to-earnings ratio of 57.29 and a beta of 1.24. 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 current ratio of 0.83 and a quick ratio of 0.83.

Berry (NASDAQ:BRY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.66 earnings per share 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 analysts' expectations of $155.00 million. Berry had a return on equity of 5.27% and a net margin of 0.60%. As a group, research analysts predict that Berry Corporation will post 0.58 EPS for the current year.

Berry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.12 annualized dividend and a yield of 3.0%. Berry's payout ratio is currently 171.43%.

Analysts Set New Price Targets

A number of research firms have commented on BRY. Wall Street Zen lowered Berry from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Piper Sandler cut their price target on Berry from $5.00 to $4.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Finally, Johnson Rice raised Berry from an "accumulate" rating to a "buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $4.00.

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.