Goldman Sachs Group Inc. Has $1.11 Million Stake in Berry Corporation $BRY

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Berry Corporation by 54.6%, now owning approximately 345,895 shares worth $1.11 million as of the latest SEC filing.
• Several institutional investors, including Vanguard Group, have increased their positions in Berry, with Vanguard now holding 6,699,963 shares worth $21.5 million.
• Berry Corporation announced a quarterly dividend of $0.03 per share, reflecting an annualized yield of 3.1%, despite a high dividend payout ratio of 171.43%.

Goldman Sachs Group Inc. lowered its position in shares of Berry Corporation (NASDAQ:BRY - Free Report) by 54.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,895 shares of the energy company's stock after selling 416,433 shares during the quarter. Goldman Sachs Group Inc. owned 0.45% of Berry worth $1,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in Berry by 8.5% during the 1st quarter. Rhumbline Advisers now owns 151,809 shares of the energy company's stock worth $487,000 after purchasing an additional 11,892 shares in the last quarter. Strs Ohio purchased a new position in Berry during the 1st quarter worth approximately $116,000. Acadian Asset Management LLC grew its position in Berry by 82.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,164,123 shares of the energy company's stock worth $3,731,000 after purchasing an additional 527,463 shares in the last quarter. Empowered Funds LLC grew its position in Berry by 7.3% during the 1st quarter. Empowered Funds LLC now owns 437,626 shares of the energy company's stock worth $1,405,000 after purchasing an additional 29,794 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Berry in the first quarter worth approximately $41,000. Institutional investors and hedge funds own 94.88% of the company's stock.

Berry Stock Performance

BRY stock traded down $0.02 during midday trading on Monday, hitting $3.88. 2,121,122 shares of the company traded hands, compared to its average volume of 2,311,626. Berry Corporation has a twelve month low of $2.11 and a twelve month high of $5.90. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The business has a 50 day simple moving average of $3.18 and a 200-day simple moving average of $2.96. The stock has a market capitalization of $301.09 million, a price-to-earnings ratio of 55.43 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.65. The company had revenue of $210.08 million during the quarter, compared to analysts' expectations of $155.00 million. Berry had a net margin of 0.60% and a return on equity of 5.27%. As a group, equities research analysts predict that Berry Corporation will post 0.58 earnings per share for the current year.

Berry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, August 18th. Berry's dividend payout ratio (DPR) is presently 171.43%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BRY. Wall Street Zen lowered shares of Berry from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Johnson Rice lowered shares of Berry from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a research report on Tuesday, September 16th. Finally, Piper Sandler reduced their price target on shares of Berry from $5.00 to $4.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $4.00.

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.