Nuveen LLC Acquires Shares of 225,502 Berry Corporation $BRY

Nuveen LLC purchased a new position in Berry Corporation (NASDAQ:BRY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 225,502 shares of the energy company's stock, valued at approximately $724,000. Nuveen LLC owned about 0.29% of Berry as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BRY. Cambridge Investment Research Advisors Inc. purchased a new position in Berry in the first quarter worth approximately $34,000. PNC Financial Services Group Inc. lifted its stake in Berry by 130.6% in the first quarter. PNC Financial Services Group Inc. now owns 11,869 shares of the energy company's stock worth $38,000 after acquiring an additional 6,722 shares during the last quarter. R Squared Ltd lifted its stake in Berry by 103.3% in the first quarter. R Squared Ltd now owns 14,050 shares of the energy company's stock worth $45,000 after acquiring an additional 7,140 shares during the last quarter. CWM LLC lifted its stake in Berry by 51.1% in the first quarter. CWM LLC now owns 16,398 shares of the energy company's stock worth $53,000 after acquiring an additional 5,547 shares during the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in Berry in the fourth quarter worth approximately $56,000. Hedge funds and other institutional investors own 94.88% of the company's stock.

Berry Stock Performance

Shares of Berry stock traded down $0.06 during trading on Friday, reaching $3.21. The company's stock had a trading volume of 492,839 shares, compared to its average volume of 757,644. The company has a 50-day moving average price of $3.06 and a two-hundred day moving average price of $2.97. The firm has a market cap of $249.10 million, a PE ratio of 45.86 and a beta of 1.24. Berry Corporation has a fifty-two week low of $2.11 and a fifty-two week high of $5.90. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55.

Berry (NASDAQ:BRY - Get Free Report) last announced 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 net margin of 0.60% and a return on equity of 5.27%. On average, analysts forecast that Berry Corporation will post 0.58 EPS for the current year.

Berry Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler cut their price objective 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. Wall Street Zen cut shares of Berry from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Johnson Rice raised shares of 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 assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" 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.