Berry Co. (NASDAQ:BRY) Plans Quarterly Dividend of $0.03

Berry Co. (NASDAQ:BRY) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.03 per share by the energy company on Monday, November 25th. This represents a $0.12 annualized dividend and a yield of 2.55%. The ex-dividend date is Friday, November 15th.

Berry has increased its dividend by an average of 51.8% annually over the last three years. Berry has a payout ratio of 87.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Berry to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 81.4%.

Berry Stock Performance

Shares of BRY stock traded down $0.36 on Friday, hitting $4.70. The company’s stock had a trading volume of 467,723 shares, compared to its average volume of 1,041,462. Berry has a fifty-two week low of $4.66 and a fifty-two week high of $8.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.62 and a current ratio of 0.62. The stock’s 50 day moving average is $5.33 and its 200-day moving average is $6.29. The company has a market capitalization of $361.62 million, a PE ratio of -10.93 and a beta of 1.72.

Berry (NASDAQ:BRY) last released its earnings results on Thursday, November 7th. The energy company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $259.80 million during the quarter, compared to the consensus estimate of $186.67 million. Berry had a negative net margin of 4.19% and a positive return on equity of 6.69%. Berry’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. Equities research analysts expect that Berry will post 0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Fernando Araujo sold 33,950 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $6.22, for a total value of $211,169.00. Following the completion of the transaction, the chief executive officer now directly owns 253,045 shares in the company, valued at approximately $1,573,939.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target on Berry from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

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.