Berry Petroleum (NASDAQ:BRY) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday, April 1st, ValuEngine reports.
BRY has been the subject of several other research reports. Piper Jaffray Companies restated a “buy” rating and set a $11.00 price objective on shares of Berry Petroleum in a research report on Wednesday, January 9th. BMO Capital Markets restated a “buy” rating and set a $13.00 price objective on shares of Berry Petroleum in a research report on Monday, January 7th. Capital One Financial lowered shares of Berry Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. Zacks Investment Research raised shares of Berry Petroleum from a “strong sell” rating to a “hold” rating in a research note on Monday, March 11th. Finally, KeyCorp initiated coverage on shares of Berry Petroleum in a research note on Thursday, December 20th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $17.50.
BRY traded down $0.11 on Monday, reaching $11.56. The company had a trading volume of 387,867 shares, compared to its average volume of 904,667. Berry Petroleum has a one year low of $7.87 and a one year high of $18.55. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $955.53 million and a PE ratio of 9.17.
In related news, Director Benefit Street Partners Llc sold 76,512 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $11.59, for a total transaction of $886,774.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.59% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in Berry Petroleum during the third quarter valued at approximately $35,000. Great West Life Assurance Co. Can acquired a new position in Berry Petroleum during the fourth quarter valued at approximately $63,000. Barclays PLC grew its holdings in Berry Petroleum by 47.6% during the fourth quarter. Barclays PLC now owns 7,323 shares of the energy company’s stock valued at $64,000 after purchasing an additional 2,361 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Berry Petroleum during the first quarter valued at approximately $97,000. Finally, New York State Common Retirement Fund acquired a new position in Berry Petroleum during the fourth quarter valued at approximately $129,000. 81.28% of the stock is currently owned by hedge funds and other institutional investors.
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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