Deprince Race & Zollo Inc. purchased a new position in Berry Petroleum Company LLC (NASDAQ:BRY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the energy company’s stock, valued at approximately $173,000.
A number of other hedge funds and other institutional investors have also modified their holdings of BRY. Macquarie Group Ltd. purchased a new position in shares of Berry Petroleum in the third quarter worth about $1,061,000. BlackRock Inc. purchased a new position in shares of Berry Petroleum in the third quarter worth about $19,936,000. Vanguard Group Inc purchased a new position in shares of Berry Petroleum in the third quarter worth about $17,448,000. JPMorgan Chase & Co. purchased a new position in shares of Berry Petroleum in the third quarter worth about $3,950,000. Finally, Acadian Asset Management LLC purchased a new position in Berry Petroleum during the fourth quarter valued at approximately $425,000. 81.29% of the stock is owned by institutional investors and hedge funds.
Shares of Berry Petroleum stock opened at $12.62 on Friday. Berry Petroleum Company LLC has a 52 week low of $7.87 and a 52 week high of $18.55. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.39.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 3.80%. Berry Petroleum’s dividend payout ratio is presently 38.10%.
Several research analysts recently weighed in on BRY shares. ValuEngine upgraded Berry Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. BMO Capital Markets reiterated a “buy” rating and set a $13.00 price target on shares of Berry Petroleum in a research report on Monday, January 7th. Piper Jaffray Companies reiterated a “buy” rating and set a $12.00 price target on shares of Berry Petroleum in a research report on Wednesday, January 30th. Finally, Zacks Investment Research upgraded Berry Petroleum from a “strong sell” rating to a “hold” rating in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Berry Petroleum presently has an average rating of “Buy” and an average price target of $17.50.
In related news, Director Benefit Street Partners Llc sold 76,512 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $11.59, for a total value of $886,774.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.59% of the stock is currently owned by insiders.
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Berry Petroleum 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.
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