Jacobs Levy Equity Management Inc. Has $4.24 Million Stock Holdings in Berry Corporation $BRY

Key Points

• Jacobs Levy Equity Management Inc. upped its stake in Berry Corporation by 14.9%, now holding 1,319,210 shares valued at approximately $4.24 million.
• Despite increased institutional interest, including significant stake increases from firms like PNC Financial Services Group Inc., Wall Street analysts have mixed ratings for Berry, with the consensus currently labeled as "Moderate Buy."
• The company reported an impressive quarterly earnings growth, achieving $0.66 EPS which surpassed analysts' expectations, alongside a quarterly dividend of $0.03 per share reflecting a 3.8% yield.

Jacobs Levy Equity Management Inc. increased its position in shares of Berry Corporation (NASDAQ:BRY - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,319,210 shares of the energy company's stock after acquiring an additional 170,764 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.70% of Berry worth $4,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BRY. Vanguard Group Inc. raised its holdings in shares of Berry by 12.0% during the first quarter. Vanguard Group Inc. now owns 6,699,963 shares of the energy company's stock worth $21,507,000 after acquiring an additional 719,845 shares in the last quarter. Millennium Management LLC raised its holdings in Berry by 130.2% during the fourth quarter. Millennium Management LLC now owns 902,743 shares of the energy company's stock valued at $3,728,000 after buying an additional 510,512 shares in the last quarter. AQR Capital Management LLC raised its holdings in Berry by 46.6% during the first quarter. AQR Capital Management LLC now owns 1,396,710 shares of the energy company's stock valued at $4,483,000 after buying an additional 444,155 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in Berry during the fourth quarter valued at about $1,660,000. Finally, Squarepoint Ops LLC raised its holdings in Berry by 2,102.3% during the fourth quarter. Squarepoint Ops LLC now owns 402,513 shares of the energy company's stock valued at $1,662,000 after buying an additional 384,236 shares in the last quarter. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Berry Stock Performance

Shares of Berry stock traded up $0.02 during trading on Friday, reaching $3.31. The company's stock had a trading volume of 2,803,307 shares, compared to its average volume of 976,971. 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 business's fifty day moving average price is $3.08 and its 200-day moving average price is $2.94. The firm has a market cap of $256.84 million, a price-to-earnings ratio of 47.29 and a beta of 1.24. Berry Corporation has a one year low of $2.11 and a one year high of $5.90.

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, topping analysts' consensus estimates of $0.01 by $0.65. The business had revenue of $210.08 million for 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%. As a group, equities research analysts predict that Berry Corporation will post 0.58 earnings per share for the current year.

Berry Dividend Announcement

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 was Monday, August 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.6%. Berry's payout ratio is presently 171.43%.

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.