Berry (NASDAQ:BRY) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

( released its quarterly earnings data Wednesday. The company's revenue for the quarter was $254,90 million, which is higher than analysts' expectations of only $174.40 millions. Berry's return on equity was 24.48 percent and its net margin was 27.90 percent. The company's revenue for the quarter was 30.9% higher than it was in the same period last year. In the same quarter of the previous year, the company posted $0.51 in earnings per share.

Berry Stock Performance

On Friday, the stock rose $0.28 to $7.02. Stock of the company traded 822,708 times its average of 735 430 shares. The company has a moving average for 50 days of $8.07, and a moving average for two hundred days of $8.47. Berry's 1 year low is $6.48, and its 1 year high is $11.94. The market cap is $531.91m, the price-to earnings ratio is 2.30 and beta is 2.18. A quarterly dividend was also declared by the firm, and will be paid out on May 25th. Investors who are in the books on Monday, 15th May will receive a dividend of $0.12. This dividend will be paid on Friday, May 12. This is a $0.48 dividend with a yield 6.84%. Berry's Dividend Payout Ratio (DPR) stands at 7.87%.

Insider Activities at Berry

Danielle E. Hunter, the president of the company, sold 30,000 shares in a deal on April 3rd. The shares were sold for an average price $8.26 and had a value of $247.800.00. After the completion of this sale, the president owns 188 757 shares in the company valued at $1,559 132.82. Arthur T. Smith, Berry's Chairman, sold 100,000 shares in the company on Thursday 16th March. The shares were sold for $7.26 on average, a value of $726,000.00. After the transaction, the Chairman now owns directly 565,904 of the company's shares, valued at $4,108.463.04. Danielle E. Hunter, the President of the company, sold 30,000 shares in a deal on April 3, 2013. The shares were sold for an average of $8.26 and a total of $247.800.00. After the transaction was completed, the president owns directly 188,757 company shares, worth $1,559 132.82. Insiders have sold 230,000 shares worth $1,794,800 of the company's stock in the past 90 days. Insiders own 2.00% of stock.

Hedge Funds weigh in on Berry

Recently, several institutional investors bought and sold the shares of Berry. Point72 Hong Kong Ltd purchased a new share position of Berry in the first quarter, valued at $31,000. Metropolitan Life Insurance Co NY increased its holdings in Berry shares by 35.0% over the fourth quarter. Metropolitan Life Insurance Co NY owns 4,844 of the stock of the energy company, worth $39,000. This is after buying an additional 1,257 during the period. Lazard Asset Management LLC purchased shares of Berry in the 4th Quarter worth $46,000. Great West Life Assurance Co. Can increased its holdings in Berry shares by 41.6% over the first quarter. Great West Life Assurance Co. Can owns 4,554 of the stock of the energy company worth $49,000, after buying an additional 1,338 during the period. Captrust Financial Advisors increased its holdings in Berry shares by 78.2% over the first quarter. Captrust Financial Advisors owns 4,857 of the stock of the energy company worth $50,000, after buying an additional 2,131 during the period. Institutional investors and hedge fund own 97.69%.

Analysts set new price targets

Recently, several analysts have weighed in about the stock. Piper Sandler, in a report published on April 19th, reduced its price target on Berry shares from $13.00 down to $12.00. The company was also given an "overweight" rating. TheStreet downgraded Berry shares from a "b-" rating to a "c+" rating in a report published on Thursday, 9th March.

Berry Company Profile

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Berry Petroleum Company LLC, formerly Berry Petroleum Company is an independent energy firm. The Company's activities include the acquisition, production, development and exploitation of oil and gas. The Company's main reserves and producing properties can be found in California (South Midway Sunset (SMWSS), North Midway Sunset (NMWSS), Diatomite and NMWSS, New Steam Floods), Texas (Permian, and E.

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