Q2 2024 EPS Estimates for Berry Co. Cut by Analyst (NASDAQ:BRY)

Berry Co. (NASDAQ:BRY) – Equities research analysts at Capital One Financial cut their Q2 2024 EPS estimates for shares of Berry in a note issued to investors on Tuesday, July 9th. Capital One Financial analyst B. Velie now forecasts that the energy company will earn $0.28 per share for the quarter, down from their previous estimate of $0.29. The consensus estimate for Berry’s current full-year earnings is $0.83 per share. Capital One Financial also issued estimates for Berry’s Q3 2024 earnings at $0.28 EPS, FY2024 earnings at $1.02 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.35 EPS, Q3 2025 earnings at $0.38 EPS, Q4 2025 earnings at $0.41 EPS and FY2025 earnings at $1.46 EPS.

Berry (NASDAQ:BRY) last announced its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). Berry had a net margin of 0.41% and a return on equity of 6.15%. The firm had revenue of $202.31 million for the quarter, compared to analysts’ expectations of $182.65 million. During the same period last year, the company posted $0.07 earnings per share. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year.

Berry Stock Performance

Shares of NASDAQ BRY opened at $6.76 on Wednesday. The firm’s 50-day moving average price is $6.75 and its 200-day moving average price is $7.16. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a market cap of $520.11 million, a PE ratio of 676.00 and a beta of 1.77. Berry has a 52-week low of $6.07 and a 52-week high of $8.94.

Berry Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Wednesday, May 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 7.10%. The ex-dividend date was Tuesday, May 14th. Berry’s dividend payout ratio (DPR) is presently 4,800.00%.

Institutional Investors Weigh In On Berry

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co raised its position in shares of Berry by 7.2% during the first quarter. Diversified Trust Co now owns 21,514 shares of the energy company’s stock valued at $173,000 after buying an additional 1,450 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Berry by 1.6% in the fourth quarter. SummerHaven Investment Management LLC now owns 99,791 shares of the energy company’s stock valued at $702,000 after purchasing an additional 1,580 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Berry by 0.9% in the fourth quarter. Panagora Asset Management Inc. now owns 237,759 shares of the energy company’s stock valued at $1,671,000 after purchasing an additional 2,006 shares in the last quarter. Quadrant Capital Group LLC grew 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. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Berry by 16.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,664 shares of the energy company’s stock valued at $175,000 after purchasing an additional 2,999 shares in the last quarter. Institutional investors own 94.88% of the company’s stock.

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.