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

A number of other hedge funds and other institutional investors have also bought and sold shares of BRY. Price T Rowe Associates Inc. MD increased its stake in Berry by 15.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,183 shares of the energy company's stock valued at $117,000 after purchasing an additional 3,714 shares in the last quarter. Comerica Bank grew its stake in shares of Berry by 30.1% in the 4th quarter. Comerica Bank now owns 31,223 shares of the energy company's stock worth $129,000 after acquiring an additional 7,219 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Berry by 357.5% in the 4th quarter. Jane Street Group LLC now owns 187,655 shares of the energy company's stock worth $775,000 after acquiring an additional 146,634 shares in the last quarter. Algert Global LLC grew its stake in shares of Berry by 311.8% in the 4th quarter. Algert Global LLC now owns 92,570 shares of the energy company's stock worth $382,000 after acquiring an additional 70,090 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Berry by 95.1% in the 4th quarter. BNP Paribas Financial Markets now owns 69,795 shares of the energy company's stock worth $288,000 after acquiring an additional 34,026 shares in the last quarter. Institutional investors own 94.88% of the company's stock.

Berry Price Performance

Shares of BRY traded up $0.02 during midday trading on Friday, hitting $3.31. 2,803,307 shares of the company traded hands, compared to its average volume of 905,944. The stock has a 50-day moving average of $3.08 and a 200-day moving average of $2.95. Berry Corporation has a one year low of $2.11 and a one year high of $5.90. The firm has a market cap of $256.86 million, a P/E ratio of 47.29 and a beta of 1.24. 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 results 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. Berry had a return on equity of 5.27% and a net margin of 0.60%.The firm had revenue of $210.08 million for the quarter, compared to analysts' expectations of $155.00 million. As a group, sell-side analysts predict that Berry Corporation will post 0.58 EPS for the current fiscal year.

Berry Announces Dividend

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

Wall Street Analysts Forecast Growth

BRY has been the subject of several recent analyst reports. Johnson Rice upgraded shares of Berry from an "accumulate" rating to a "buy" rating in a research note on Wednesday, May 21st. Piper Sandler cut their price target on shares of Berry from $5.00 to $4.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Finally, Wall Street Zen downgraded shares of Berry from a "hold" rating to a "sell" rating in a 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.