Berry Petroleum Company LLC (NASDAQ:BRY) – Stock analysts at Piper Jaffray Companies raised their Q2 2019 EPS estimates for shares of Berry Petroleum in a report issued on Thursday, April 18th, Zacks Investment Research reports. Piper Jaffray Companies analyst K. Harrison now anticipates that the energy company will post earnings per share of $0.43 for the quarter, up from their previous estimate of $0.39. Piper Jaffray Companies has a “Buy” rating and a $12.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Berry Petroleum’s Q3 2019 earnings at $0.47 EPS, Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.63 EPS, Q1 2020 earnings at $0.44 EPS, Q2 2020 earnings at $0.51 EPS, Q3 2020 earnings at $0.52 EPS, Q4 2020 earnings at $0.50 EPS and FY2020 earnings at $1.97 EPS.
Berry Petroleum (NASDAQ:BRY) last released its earnings results on Wednesday, May 8th. The energy company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Berry Petroleum had a net margin of 18.84% and a return on equity of 13.78%. The company had revenue of $76.54 million for the quarter, compared to the consensus estimate of $146.13 million.
Shares of BRY stock traded up $0.04 on Friday, hitting $11.48. 322,358 shares of the company’s stock were exchanged, compared to its average volume of 484,873. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.39. Berry Petroleum has a 12 month low of $7.87 and a 12 month high of $18.55. The company has a market cap of $936.70 million and a P/E ratio of 9.11.
Several hedge funds have recently modified their holdings of BRY. FMR LLC increased its stake in shares of Berry Petroleum by 61.1% in the fourth quarter. FMR LLC now owns 7,871,163 shares of the energy company’s stock valued at $68,874,000 after buying an additional 2,985,746 shares during the period. BlackRock Inc. increased its stake in shares of Berry Petroleum by 155.8% in the first quarter. BlackRock Inc. now owns 3,163,091 shares of the energy company’s stock valued at $36,501,000 after buying an additional 1,926,341 shares during the period. Vanguard Group Inc acquired a new stake in shares of Berry Petroleum in the third quarter valued at about $17,448,000. Vanguard Group Inc. acquired a new stake in shares of Berry Petroleum in the third quarter valued at about $17,448,000. Finally, Ninepoint Partners LP acquired a new stake in shares of Berry Petroleum in the first quarter valued at about $6,347,000. 81.33% of the stock is owned by institutional investors.
In other Berry Petroleum news, Director Benefit Street Partners Llc sold 76,512 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $11.59, for a total value of $886,774.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.59% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a yield of 4.18%. Berry Petroleum’s payout ratio is presently 38.10%.
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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