Piper Sandler Has Lowered Expectations for Berry (NASDAQ:BRY) Stock Price

Berry (NASDAQ:BRY) had its target price reduced by research analysts at Piper Sandler from $5.00 to $4.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. Piper Sandler’s price target indicates a potential upside of 25.79% from the company’s previous close.

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

Berry Price Performance

BRY opened at $3.18 on Thursday. The stock has a 50-day moving average price of $2.88 and a 200-day moving average price of $3.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $246.77 million, a PE ratio of -6.77 and a beta of 1.09. Berry has a 1 year low of $2.11 and a 1 year high of $6.95.

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

Institutional Investors Weigh In On Berry

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Berry by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 6,699,963 shares of the energy company’s stock worth $21,507,000 after buying an additional 719,845 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Berry by 31.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,403,588 shares of the energy company’s stock worth $9,927,000 after buying an additional 571,812 shares in the last quarter. American Century Companies Inc. increased its holdings in Berry by 9.9% in the 1st quarter. American Century Companies Inc. now owns 2,310,008 shares of the energy company’s stock worth $7,415,000 after buying an additional 208,183 shares in the last quarter. Geode Capital Management LLC increased its holdings in Berry by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,952,996 shares of the energy company’s stock worth $8,067,000 after buying an additional 49,045 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Berry by 22.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,543,544 shares of the energy company’s stock worth $4,955,000 after buying an additional 283,940 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors.

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.