Cambridge Investment Research Advisors Inc. Purchases New Shares in Berry Corporation (NASDAQ:BRY)

Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Berry Corporation (NASDAQ:BRY) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,687 shares of the energy company’s stock, valued at approximately $34,000.

Several other hedge funds also recently made changes to their positions in BRY. Victory Capital Management Inc. boosted its position in shares of Berry by 38.3% during the fourth quarter. Victory Capital Management Inc. now owns 534,043 shares of the energy company’s stock valued at $2,206,000 after purchasing an additional 147,757 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Berry by 1,012.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 478,815 shares of the energy company’s stock valued at $1,978,000 after buying an additional 435,758 shares during the last quarter. Royce & Associates LP purchased a new position in Berry during the fourth quarter valued at $154,000. Thrivent Financial for Lutherans purchased a new position in Berry during the fourth quarter valued at $730,000. Finally, Intech Investment Management LLC raised its stake in Berry by 45.1% during the fourth quarter. Intech Investment Management LLC now owns 35,465 shares of the energy company’s stock valued at $146,000 after buying an additional 11,027 shares during the last quarter. 94.88% of the stock is currently owned by institutional investors.

Berry Stock Down 2.3%

Shares of NASDAQ:BRY opened at $3.03 on Wednesday. The stock has a fifty day simple moving average of $2.86 and a two-hundred day simple moving average of $3.37. The stock has a market capitalization of $235.13 million, a price-to-earnings ratio of -6.45 and a beta of 1.09. Berry Corporation has a 12-month low of $2.11 and a 12-month 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 posted its quarterly earnings results on Thursday, May 8th. The energy company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. Berry had a positive return on equity of 7.36% and a negative net margin of 4.51%. The firm had revenue of $182.65 million during the quarter, compared to analysts’ expectations of $177.00 million. On average, research analysts anticipate that Berry Corporation will post 0.58 earnings per share for the current fiscal year.

Berry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, May 19th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Monday, May 19th. Berry’s dividend payout ratio is currently -25.53%.

Wall Street Analysts Forecast Growth

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

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.