Geode Capital Management LLC raised its position in shares of Berry Petroleum Company LLC (NASDAQ:BRY) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,827 shares of the energy company’s stock after acquiring an additional 21,612 shares during the quarter. Geode Capital Management LLC’s holdings in Berry Petroleum were worth $2,002,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc bought a new stake in Berry Petroleum during the third quarter valued at $35,000. Great West Life Assurance Co. Can bought a new position in shares of Berry Petroleum during the 4th quarter worth about $63,000. New York State Common Retirement Fund bought a new position in shares of Berry Petroleum during the 4th quarter worth about $129,000. Rhumbline Advisers boosted its position in shares of Berry Petroleum by 55.9% during the 4th quarter. Rhumbline Advisers now owns 16,761 shares of the energy company’s stock worth $147,000 after purchasing an additional 6,013 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Berry Petroleum during the 4th quarter worth about $159,000. 81.31% of the stock is currently owned by institutional investors and hedge funds.
BRY opened at $10.88 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.39. Berry Petroleum Company LLC has a fifty-two week low of $7.87 and a fifty-two week high of $18.55. The stock has a market capitalization of $930.15 million and a P/E ratio of 8.63.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.12 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.41%. Berry Petroleum’s dividend payout ratio is presently 38.10%.
In related news, Director Benefit Street Partners Llc sold 76,512 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $11.59, for a total value of $886,774.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.59% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. ValuEngine cut shares of Berry Petroleum from a “sell” rating to a “strong sell” rating in a research report on Monday, April 1st. BMO Capital Markets reissued a “buy” rating and set a $13.00 price objective on shares of Berry Petroleum in a research report on Monday, January 7th. Zacks Investment Research raised shares of Berry Petroleum from a “strong sell” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $12.00 price objective on shares of Berry Petroleum in a research report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Berry Petroleum has an average rating of “Buy” and a consensus price target of $17.50.
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Berry Petroleum 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.
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