Harbor Capital Advisors Inc. Purchases 151,204 Shares of Berry Corporation $BRY

Key Points

• Harbor Capital Advisors Inc. significantly increased its stake in Berry Corporation, acquiring an additional 151,204 shares and boosting its ownership to over 152,000 shares, valued at approximately $423,000.
• Wall Street analysts recently downgraded Berry's stock, with target prices falling to $4.00, resulting in a current consensus rating of "Hold."
• Berry Corporation reported solid earnings, with $0.66 EPS for the quarter, surpassing analyst expectations, and announced a dividend of $0.03 per share for a yield of 3.1%.

Harbor Capital Advisors Inc. grew its holdings in Berry Corporation (NASDAQ:BRY - Free Report) by 10,449.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 152,651 shares of the energy company's stock after buying an additional 151,204 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.20% of Berry worth $423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of Berry by 9.9% in the 1st quarter. American Century Companies Inc. now owns 2,310,008 shares of the energy company's stock valued at $7,415,000 after purchasing an additional 208,183 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Berry by 22.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,543,544 shares of the energy company's stock valued at $4,955,000 after purchasing an additional 283,940 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Berry by 119.5% in the 1st quarter. Russell Investments Group Ltd. now owns 267,449 shares of the energy company's stock valued at $859,000 after purchasing an additional 145,582 shares during the period. Jane Street Group LLC raised its stake in Berry by 357.5% during the fourth quarter. Jane Street Group LLC now owns 187,655 shares of the energy company's stock valued at $775,000 after buying an additional 146,634 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Berry during the first quarter valued at $724,000. Hedge funds and other institutional investors own 94.88% of the company's stock.

Berry Stock Performance

NASDAQ:BRY traded up $0.01 during mid-day trading on Monday, hitting $3.91. 1,040,273 shares of the company traded hands, compared to its average volume of 1,170,041. The stock's fifty day moving average price is $3.16 and its 200-day moving average price is $2.95. Berry Corporation has a one year low of $2.11 and a one year 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 firm has a market cap of $303.03 million, a price-to-earnings ratio of 55.79 and a beta of 1.24.

Berry (NASDAQ:BRY - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $210.08 million during the quarter, compared to analyst estimates of $155.00 million. Berry had a return on equity of 5.27% and a net margin of 0.60%. Research analysts anticipate that Berry Corporation will post 0.58 earnings per share for the current fiscal year.

Berry Announces Dividend

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

Analysts Set New Price Targets

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