PDT Partners LLC Increases Position in Berry Co. (NASDAQ:BRY)

PDT Partners LLC lifted its position in shares of Berry Co. (NASDAQ:BRY) by 20.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,730 shares of the energy company’s stock after buying an additional 16,522 shares during the quarter. PDT Partners LLC’s holdings in Berry were worth $507,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BRY. Federated Hermes Inc. bought a new stake in shares of Berry during the second quarter valued at approximately $25,000. Gladius Capital Management LP purchased a new position in Berry during the second quarter valued at $27,000. CWM LLC increased its holdings in Berry by 287.4% in the 2nd quarter. CWM LLC now owns 4,560 shares of the energy company’s stock valued at $29,000 after acquiring an additional 3,383 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Berry by 43.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock worth $47,000 after purchasing an additional 2,186 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Berry during the 2nd quarter valued at about $50,000. Institutional investors own 94.88% of the company’s stock.

Berry Trading Up 1.0 %

Shares of BRY opened at $4.12 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $316.99 million, a price-to-earnings ratio of 3.81 and a beta of 1.72. The company has a 50-day moving average of $4.88 and a 200 day moving average of $5.81. Berry Co. has a 1-year low of $3.88 and a 1-year high of $8.88.

Berry (NASDAQ:BRY) last posted its quarterly earnings results on Thursday, November 7th. The energy company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Berry had a net margin of 9.40% and a return on equity of 6.50%. The company had revenue of $259.80 million for the quarter, compared to the consensus estimate of $186.67 million. During the same period in the prior year, the firm posted $0.15 EPS. The business’s revenue was up 31.3% on a year-over-year basis. On average, research analysts expect that Berry Co. will post 0.6 EPS for the current year.

Berry Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Friday, November 15th. Berry’s payout ratio is 11.11%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their target price on Berry from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th.

Berry 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.