Capital One Financial Equities Analysts Raise Earnings Estimates for Berry Co. (NASDAQ:BRY)

Berry Co. (NASDAQ:BRY) – Equities researchers at Capital One Financial upped their Q1 2024 EPS estimates for Berry in a research note issued to investors on Monday, April 15th. Capital One Financial analyst B. Velie now forecasts that the energy company will earn $0.29 per share for the quarter, up from their prior estimate of $0.28. The consensus estimate for Berry’s current full-year earnings is $0.81 per share. Capital One Financial also issued estimates for Berry’s FY2024 earnings at $1.19 EPS.

Separately, TheStreet raised Berry from a “c” rating to a “b-” rating in a research report on Friday, March 8th.

Berry Trading Up 0.5 %

Berry stock opened at $8.33 on Tuesday. The company has a market capitalization of $640.91 million, a price-to-earnings ratio of 18.11 and a beta of 1.80. The company’s fifty day moving average price is $7.50 and its two-hundred day moving average price is $7.34. Berry has a one year low of $6.22 and a one year high of $8.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.63 and a quick ratio of 0.63.

Berry (NASDAQ:BRY) last posted its earnings results on Wednesday, March 6th. The energy company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.12). The business had revenue of $216.40 million for the quarter, compared to analyst estimates of $190.28 million. Berry had a return on equity of 5.27% and a net margin of 4.14%. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BRY. Tower Research Capital LLC TRC increased its holdings in shares of Berry by 525.6% in the first quarter. Tower Research Capital LLC TRC now owns 3,147 shares of the energy company’s stock valued at $25,000 after purchasing an additional 2,644 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Berry by 211.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,905 shares of the energy company’s stock valued at $27,000 after purchasing an additional 2,653 shares in the last quarter. Quarry LP increased its holdings in shares of Berry by 1,169.4% in the second quarter. Quarry LP now owns 4,151 shares of the energy company’s stock valued at $29,000 after purchasing an additional 3,824 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Berry in the first quarter valued at approximately $31,000. Finally, Metropolitan Life Insurance Co NY increased its holdings in shares of Berry by 35.0% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,844 shares of the energy company’s stock valued at $39,000 after purchasing an additional 1,257 shares in the last quarter. Institutional investors own 94.88% of the company’s stock.

Berry Increases Dividend

The company also recently announced a None dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 15th were paid a $0.26 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a dividend yield of 6.7%. This is a boost from Berry’s previous None dividend of $0.21. Berry’s payout ratio is 104.35%.

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.