Zurcher Kantonalbank Zurich Cantonalbank Purchases 3,089 Shares of Berry Co. (NASDAQ:BRY)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Berry Co. (NASDAQ:BRY) by 17.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,572 shares of the energy company’s stock after acquiring an additional 3,089 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Berry were worth $145,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Berry during the 3rd quarter valued at $269,000. New York State Teachers Retirement System bought a new stake in Berry in the third quarter valued at about $56,000. Mackenzie Financial Corp lifted its stake in Berry by 68.7% in the third quarter. Mackenzie Financial Corp now owns 17,244 shares of the energy company’s stock valued at $136,000 after buying an additional 7,022 shares during the period. Cheyne Capital Management UK LLP bought a new position in Berry during the third quarter worth about $254,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Berry by 0.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,662,316 shares of the energy company’s stock worth $21,831,000 after buying an additional 7,404 shares during the period. Institutional investors own 94.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TheStreet raised shares of Berry from a “c” rating to a “b-” rating in a research note on Friday, March 8th.

Berry Stock Performance

BRY stock opened at $7.70 on Thursday. Berry Co. has a 1-year low of $6.22 and a 1-year high of $8.94. The business’s 50-day moving average price is $7.98 and its two-hundred day moving average price is $7.37. The firm has a market cap of $592.43 million, a PE ratio of 770.00 and a beta of 1.77. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Berry (NASDAQ:BRY) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). The business had revenue of $202.31 million during the quarter, compared to analyst estimates of $182.65 million. Berry had a net margin of 0.41% and a return on equity of 6.15%. Berry’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. As a group, research analysts forecast that Berry Co. will post 0.89 earnings per share for the current year.

Berry Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.23%. Berry’s payout ratio is 4,800.00%.

Berry 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.