Q1 2024 Earnings Forecast for Berry Co. Issued By Capital One Financial (NASDAQ:BRY)

Berry Co. (NASDAQ:BRY) – Analysts at Capital One Financial upped their Q1 2024 earnings estimates for shares of Berry in a research note issued on Monday, April 15th. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings of $0.29 per share for the quarter, up from their previous forecast 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.

Berry (NASDAQ:BRY) last posted its quarterly earnings data 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 firm had revenue of $216.40 million for the quarter, compared to the consensus estimate of $190.28 million. Berry had a return on equity of 5.27% and a net margin of 4.14%. The company’s revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS.

Separately, TheStreet upgraded shares of Berry from a “c” rating to a “b-” rating in a research note on Friday, March 8th.

Berry Trading Down 0.1 %

NASDAQ BRY opened at $8.32 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.56. The firm has a market cap of $640.14 million, a PE ratio of 18.09 and a beta of 1.80. The company has a 50 day moving average price of $7.54 and a 200 day moving average price of $7.35. Berry has a 52 week low of $6.22 and a 52 week high of $8.94.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Berry by 7.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,586 shares of the energy company’s stock valued at $141,000 after acquiring an additional 1,177 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in shares of Berry by 35.0% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,844 shares of the energy company’s stock valued at $39,000 after acquiring an additional 1,257 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in Berry by 41.6% during the first quarter. Great West Life Assurance Co. Can now owns 4,554 shares of the energy company’s stock worth $49,000 after buying an additional 1,338 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in Berry by 1.6% during the fourth quarter. SummerHaven Investment Management LLC now owns 99,791 shares of the energy company’s stock worth $702,000 after buying an additional 1,580 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Berry by 1.4% during the first quarter. Rhumbline Advisers now owns 130,780 shares of the energy company’s stock worth $1,027,000 after buying an additional 1,795 shares in the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.

Berry Increases Dividend

The business also recently declared a None dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 15th were paid a dividend of $0.26 per share. This is a positive change from Berry’s previous None dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 14th. This represents a yield of 6.7%. Berry’s dividend payout ratio is presently 104.35%.

About Berry

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.