Victory Capital Management Inc. Purchases 147,757 Shares of Berry Co. (NASDAQ:BRY)

Victory Capital Management Inc. boosted its position in Berry Co. (NASDAQ:BRY) by 38.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 534,043 shares of the energy company’s stock after acquiring an additional 147,757 shares during the quarter. Victory Capital Management Inc.’s holdings in Berry were worth $2,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BRY. R Squared Ltd bought a new position in shares of Berry during the fourth quarter valued at about $29,000. McIlrath & Eck LLC bought a new position in shares of Berry during the third quarter valued at about $47,000. EMC Capital Management grew its stake in shares of Berry by 149.7% during the fourth quarter. EMC Capital Management now owns 13,780 shares of the energy company’s stock valued at $57,000 after buying an additional 8,261 shares during the last quarter. Quarry LP grew its stake in shares of Berry by 390.6% during the third quarter. Quarry LP now owns 12,643 shares of the energy company’s stock valued at $65,000 after buying an additional 10,066 shares during the last quarter. Finally, Caprock Group LLC bought a new position in shares of Berry during the fourth quarter valued at about $70,000. Institutional investors own 94.88% of the company’s stock.

Berry Stock Down 1.2 %

Shares of NASDAQ:BRY opened at $3.34 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $256.98 million, a P/E ratio of 3.09 and a beta of 1.67. Berry Co. has a 12-month low of $3.06 and a 12-month high of $8.88. The stock’s 50-day moving average price is $4.27 and its 200-day moving average price is $4.60.

Berry (NASDAQ:BRY) last posted its earnings results on Wednesday, March 12th. The energy company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.09. The company had revenue of $167.06 million for the quarter, compared to analysts’ expectations of $173.00 million. Berry had a return on equity of 6.50% and a net margin of 9.40%. On average, equities analysts anticipate that Berry Co. will post 0.58 earnings per share for the current year.

Berry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 22nd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.12 annualized dividend and a dividend yield of 3.59%. Berry’s payout ratio is presently 48.00%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price objective on Berry from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th.

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.