Berry Co. (NASDAQ:BRY) Declares $0.03 Quarterly Dividend

Berry Co. (NASDAQ:BRY) announced a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Investors of record on Friday, November 15th will be paid a dividend of 0.03 per share by the energy company on Monday, November 25th. This represents a $0.12 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, November 15th.

Berry has increased its dividend payment by an average of 51.8% annually over the last three years. Berry has a dividend payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Berry to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 20.3%.

Berry Price Performance

Shares of Berry stock traded down $0.07 during midday trading on Thursday, hitting $4.26. 242,728 shares of the company traded hands, compared to its average volume of 1,058,367. The firm’s fifty day moving average price is $5.23 and its 200-day moving average price is $6.17. The stock has a market cap of $327.76 million, a price-to-earnings ratio of 4.00 and a beta of 1.72. Berry has a 12 month low of $4.16 and a 12 month high of $8.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.62 and a current ratio of 0.80.

Berry (NASDAQ:BRY) last issued its quarterly earnings data on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Berry had a return on equity of 6.50% and a net margin of 9.40%. The company had revenue of $259.80 million for the quarter, compared to the consensus estimate of $186.67 million. During the same quarter last year, the business earned $0.15 earnings per share. Berry’s revenue was up 31.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Berry will post 0.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their target price on shares of Berry from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

Insider Transactions at Berry

In other news, CEO Fernando Araujo sold 33,950 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $6.22, for a total value of $211,169.00. Following the completion of the sale, the chief executive officer now owns 253,045 shares of the company’s stock, valued at approximately $1,573,939.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Berry 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.