Berry Corporation (NASDAQ:BRY) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Berry Corporation (NASDAQ:BRY) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,708,333 shares of the energy company’s stock after selling 21,006 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Berry were worth $8,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BRY. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Berry during the first quarter valued at about $34,000. Meeder Asset Management Inc. raised its stake in shares of Berry by 54.9% during the fourth quarter. Meeder Asset Management Inc. now owns 12,114 shares of the energy company’s stock valued at $50,000 after purchasing an additional 4,294 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of Berry during the fourth quarter valued at about $56,000. RPO LLC bought a new stake in shares of Berry during the fourth quarter valued at about $62,000. Finally, AXQ Capital LP bought a new stake in shares of Berry during the fourth quarter valued at about $65,000. 94.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Johnson Rice upgraded shares of Berry from an “accumulate” rating to a “buy” rating in a research report on Wednesday, May 21st.

Berry Price Performance

Shares of Berry stock opened at $3.02 on Friday. The company’s 50-day moving average price is $2.76 and its two-hundred day moving average price is $3.41. The stock has a market cap of $234.35 million, a PE ratio of -6.43 and a beta of 1.09. Berry Corporation has a 52 week low of $2.11 and a 52 week high of $7.02. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.59.

Berry (NASDAQ:BRY) last issued its quarterly earnings results on Thursday, May 8th. The energy company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $182.65 million for the quarter, compared to analysts’ expectations of $177.00 million. Berry had a positive return on equity of 7.36% and a negative net margin of 4.51%. As a group, sell-side analysts anticipate that Berry Corporation will post 0.58 EPS for the current fiscal year.

Berry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, May 19th were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.12 dividend on an annualized basis and a yield of 3.97%. Berry’s dividend payout ratio is currently -25.53%.

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.