MetLife Investment Advisors LLC acquired a new position in Berry Petroleum Company LLC (NASDAQ:BRY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,977 shares of the energy company’s stock, valued at approximately $300,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BRY. Oaktree Capital Management LP purchased a new position in Berry Petroleum in the first quarter worth $90,090,000. Benefit Street Partners LLC grew its holdings in Berry Petroleum by 27.9% in the first quarter. Benefit Street Partners LLC now owns 23,771,620 shares of the energy company’s stock worth $274,325,000 after purchasing an additional 5,182,929 shares during the last quarter. FMR LLC grew its holdings in Berry Petroleum by 61.1% in the fourth quarter. FMR LLC now owns 7,871,163 shares of the energy company’s stock worth $68,874,000 after purchasing an additional 2,985,746 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Berry Petroleum during the first quarter valued at $7,110,000. Finally, Ninepoint Partners LP purchased a new stake in shares of Berry Petroleum during the first quarter valued at $6,347,000.
In other news, Director Benefit Street Partners Llc sold 5,085,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $9.84, for a total value of $50,036,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.59% of the stock is owned by corporate insiders.
Berry Petroleum (NASDAQ:BRY) last posted its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). Berry Petroleum had a net margin of 18.84% and a return on equity of 13.15%. The firm had revenue of $76.54 million during the quarter, compared to analysts’ expectations of $146.13 million. On average, equities research analysts predict that Berry Petroleum Company LLC will post 1.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.72%. Berry Petroleum’s payout ratio is currently 38.10%.
A number of equities research analysts have recently weighed in on the stock. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. UBS Group raised shares of to a “neutral” rating and boosted their price objective for the company from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a report on Thursday, June 20th. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Capital One Financial raised shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $16.67.
About Berry Petroleum
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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