Cornercap Investment Counsel Inc. Has $369,000 Position in Berry Co. (NASDAQ:BRY)

Cornercap Investment Counsel Inc. reduced its position in shares of Berry Co. (NASDAQ:BRY) by 53.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,774 shares of the energy company’s stock after selling 82,003 shares during the period. Cornercap Investment Counsel Inc. owned about 0.09% of Berry worth $369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Berry by 9.3% during the second quarter. Arizona State Retirement System now owns 20,462 shares of the energy company’s stock worth $132,000 after buying an additional 1,747 shares during the period. Meeder Asset Management Inc. lifted its holdings in Berry by 43.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock worth $47,000 after purchasing an additional 2,186 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in Berry by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 103,413 shares of the energy company’s stock worth $668,000 after purchasing an additional 2,216 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Berry by 16.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,664 shares of the energy company’s stock worth $175,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Diversified Trust Co increased its stake in Berry by 14.4% during the 2nd quarter. Diversified Trust Co now owns 24,615 shares of the energy company’s stock worth $159,000 after acquiring an additional 3,101 shares during the period. 94.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price objective on Berry from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th.

Insider Buying and Selling

In other Berry news, CEO Fernando Araujo sold 33,950 shares of Berry stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $6.22, for a total transaction of $211,169.00. Following the transaction, the chief executive officer now directly owns 253,045 shares of the company’s stock, valued at approximately $1,573,939.90. The trade was a 11.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Berry Trading Down 4.3 %

Shares of BRY opened at $4.28 on Monday. Berry Co. has a 52-week low of $4.16 and a 52-week high of $8.88. The business’s fifty day moving average is $5.16 and its 200-day moving average is $6.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.62 and a current ratio of 0.80. The firm has a market cap of $329.30 million, a price-to-earnings ratio of 3.96 and a beta of 1.72.

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

Berry Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 15th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a yield of 2.80%. Berry’s dividend payout ratio is currently 44.44%.

About Berry

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.