Berry (NASDAQ:BRY) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Berry Corporation (NASDAQ:BRY) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.26 and traded as high as $3.27. Berry shares last traded at $3.26, with a volume of 2,050,800 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BRY shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Berry in a research report on Monday. Johnson Rice lowered shares of Berry from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Tuesday, September 16th. Finally, Zacks Research upgraded shares of Berry from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Berry has a consensus rating of “Reduce” and a consensus target price of $4.00.

Berry Trading Up 2.2%

The company has a market capitalization of $253.01 million, a PE ratio of -2.76 and a beta of 0.85. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average is $3.36 and its two-hundred day moving average is $3.26.

Berry (NASDAQ:BRY) last announced its earnings results on Wednesday, November 5th. The energy company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.15). The firm had revenue of $151.14 million during the quarter, compared to analyst estimates of $169.50 million. Berry had a negative net margin of 12.42% and a positive return on equity of 2.95%. As a group, sell-side analysts predict that Berry Corporation will post 0.58 EPS for the current fiscal year.

Berry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Tuesday, November 18th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, November 18th. Berry’s dividend payout ratio is presently -10.17%.

Institutional Trading of Berry

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tudor Investment Corp ET AL boosted its stake in shares of Berry by 6,686.5% in the third quarter. Tudor Investment Corp ET AL now owns 3,687,784 shares of the energy company’s stock worth $13,940,000 after acquiring an additional 3,633,444 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Berry by 73.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,368,530 shares of the energy company’s stock valued at $12,733,000 after purchasing an additional 1,429,390 shares in the last quarter. Millennium Management LLC boosted its stake in Berry by 356.0% during the 3rd quarter. Millennium Management LLC now owns 1,707,138 shares of the energy company’s stock worth $6,453,000 after purchasing an additional 1,332,780 shares during the last quarter. ABC Arbitrage SA purchased a new stake in shares of Berry during the third quarter worth $4,913,000. Finally, JPMorgan Chase & Co. raised its position in shares of Berry by 393.3% in the third quarter. JPMorgan Chase & Co. now owns 1,525,733 shares of the energy company’s stock valued at $5,767,000 after buying an additional 1,216,451 shares during the last quarter. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Berry Company Profile

Berry Petroleum Company is an independent oil and gas exploration and production firm with primary operations in the United States. The company focuses on the development, production and acquisition of crude oil, natural gas and natural gas liquids. Headquartered in Dallas, Texas, Berry concentrates its efforts on two core regions: California’s San Joaquin Basin and the Williston Basin in North Dakota.

In California, Berry’s flagship asset is the Midway-Sunset Field, one of the largest onshore oil fields in North America.