Allianz Asset Management GmbH reduced its holdings in shares of Berry Petroleum Company LLC (NASDAQ:BRY) by 16.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 284,790 shares of the energy company’s stock after selling 56,749 shares during the period. Allianz Asset Management GmbH owned about 0.35% of Berry Petroleum worth $3,019,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its position in shares of Berry Petroleum by 2,361.7% in the first quarter. BNP Paribas Arbitrage SA now owns 12,456 shares of the energy company’s stock worth $144,000 after purchasing an additional 11,950 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Berry Petroleum in the first quarter worth approximately $75,000. SG Americas Securities LLC bought a new position in shares of Berry Petroleum in the first quarter worth approximately $113,000. Quantamental Technologies LLC bought a new position in shares of Berry Petroleum in the first quarter worth approximately $87,000. Finally, Rhumbline Advisers boosted its position in shares of Berry Petroleum by 303.2% in the first quarter. Rhumbline Advisers now owns 67,573 shares of the energy company’s stock worth $780,000 after purchasing an additional 50,812 shares during the period. 98.83% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on BRY. UBS Group set a $14.00 price target on shares of Berry Petroleum and gave the stock a “buy” rating in a research report on Thursday, June 20th. Zacks Investment Research lowered shares of Berry Petroleum from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 21st. Finally, Capital One Financial upgraded shares of Berry Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $12.75.
Shares of NASDAQ:BRY opened at $9.83 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a fifty day moving average price of $8.74 and a 200 day moving average price of $10.68. Berry Petroleum Company LLC has a fifty-two week low of $7.58 and a fifty-two week high of $18.55. The firm has a market cap of $787.06 million, a price-to-earnings ratio of 6.80, a P/E/G ratio of 0.47 and a beta of 2.41.
Berry Petroleum (NASDAQ:BRY) last issued its earnings results on Wednesday, August 7th. The energy company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.11). The company had revenue of $170.07 million for the quarter, compared to the consensus estimate of $148.70 million. Berry Petroleum had a return on equity of 12.64% and a net margin of 24.87%. As a group, research analysts predict that Berry Petroleum Company LLC will post 1.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Thursday, September 12th. Berry Petroleum’s payout ratio is 38.10%.
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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