Jump Financial LLC Sells 99,629 Shares of Berry Corporation $BRY

Key Points

• Jump Financial LLC significantly reduced its stake in Berry Corporation by 63.7%, holding now 56,852 shares after selling 99,629 shares in the first quarter.
• Several institutional investors, including Algert Global LLC and American Century Companies Inc., increased their holdings in Berry Corporation, with Algert Global boosting its position by 20.0%.
• Berry Corporation's recent earnings report showed an EPS of $0.66, surpassing expectations, alongside a quarterly dividend announcement of $0.03 per share.

Jump Financial LLC lowered its stake in shares of Berry Corporation (NASDAQ:BRY - Free Report) by 63.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,852 shares of the energy company's stock after selling 99,629 shares during the period. Jump Financial LLC owned 0.07% of Berry worth $182,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position 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. American Century Companies Inc. lifted its position in shares of Berry by 9.9% during the first quarter. American Century Companies Inc. now owns 2,310,008 shares of the energy company's stock worth $7,415,000 after acquiring an additional 208,183 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Berry by 22.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,543,544 shares of the energy company's stock worth $4,955,000 after acquiring an additional 283,940 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Berry by 94.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,148,446 shares of the energy company's stock worth $4,743,000 after acquiring an additional 557,842 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Berry by 130.2% during the fourth quarter. Millennium Management LLC now owns 902,743 shares of the energy company's stock worth $3,728,000 after acquiring an additional 510,512 shares in the last quarter. Hedge funds and other institutional investors own 94.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler decreased 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. Johnson Rice raised shares of Berry from an "accumulate" rating to a "buy" rating in a report on Wednesday, May 21st. Finally, Wall Street Zen cut shares of Berry from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $4.00.

Berry Price Performance

BRY traded up $0.06 during trading on Wednesday, reaching $3.24. The stock had a trading volume of 2,375,458 shares, compared to its average volume of 766,838. The stock has a market cap of $251.42 million, a PE ratio of 46.29 and a beta of 1.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. Berry Corporation has a one year low of $2.11 and a one year high of $5.90. The business has a 50-day moving average of $3.07 and a 200-day moving average of $2.97.

Berry (NASDAQ:BRY - Get Free Report) last released its earnings results on Wednesday, August 6th. The energy company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.65. The business had revenue of $210.08 million for 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, equities research analysts anticipate that Berry Corporation will post 0.58 EPS for the current fiscal year.

Berry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, August 18th. Berry's dividend payout ratio is currently 171.43%.

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.