Berry Petroleum Company LLC (NYSE:BRY) was the recipient of a large increase in short interest during the month of September. As of September 28th, there was short interest totalling 1,328,929 shares, an increase of 124.1% from the September 14th total of 593,042 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average trading volume of 829,372 shares, the days-to-cover ratio is presently 1.6 days.
Several equities analysts have recently weighed in on BRY shares. Piper Jaffray Companies started coverage on shares of Berry Petroleum in a research note on Monday, August 20th. They issued an “overweight” rating and a $25.00 price objective on the stock. Goldman Sachs Group started coverage on shares of Berry Petroleum in a research note on Monday, August 20th. They issued a “buy” rating and a $20.00 price objective on the stock. UBS Group started coverage on shares of Berry Petroleum in a research note on Monday, August 20th. They issued a “buy” rating on the stock. BMO Capital Markets started coverage on shares of Berry Petroleum in a research note on Monday, August 20th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Co started coverage on shares of Berry Petroleum in a research note on Monday, August 20th. They issued an “outperform” rating and a $17.00 price objective on the stock. Nine research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $20.67.
In related news, COO Gary A. Grove purchased 10,000 shares of the company’s stock in a transaction dated Monday, July 30th. The shares were purchased at an average price of $13.60 per share, with a total value of $136,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Goldman Sachs Asset Management sold 516,373 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $13.16, for a total transaction of $6,795,468.68. The disclosure for this sale can be found here.
Shares of NYSE:BRY opened at $15.93 on Friday. Berry Petroleum has a twelve month low of $3.00 and a twelve month high of $18.55.
Berry Petroleum (NYSE:BRY) last released its earnings results on Wednesday, August 22nd. The energy company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.22). The business had revenue of $65.98 million for the quarter, compared to the consensus estimate of $118.50 million.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Saturday, September 15th will be paid a dividend of $0.09 per share. This is a boost from Berry Petroleum’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.36 dividend on an annualized basis and a yield of 2.26%. Berry Petroleum’s dividend payout ratio (DPR) is presently 11.21%.
Berry Petroleum 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.
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