Berry Petroleum Company LLC (NASDAQ:BRY) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 1,577,100 shares, an increase of 24.0% from the May 30th total of 1,271,600 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average trading volume of 764,500 shares, the short-interest ratio is presently 2.1 days.
A number of brokerages have commented on BRY. Capital One Financial upgraded Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, UBS Group upgraded to a “neutral” rating and lifted their target price for the stock from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Berry Petroleum currently has an average rating of “Buy” and a consensus target price of $16.67.
In other news, Director Benefit Street Partners Llc sold 5,085,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $9.84, for a total transaction of $50,036,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.59% of the company’s stock.
BRY stock traded up $0.14 during midday trading on Friday, hitting $10.47. 527,812 shares of the company’s stock were exchanged, compared to its average volume of 744,799. The stock’s fifty day moving average is $10.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $857.27 million and a P/E ratio of 8.31. Berry Petroleum has a one year low of $7.87 and a one year high of $18.55.
Berry Petroleum (NASDAQ:BRY) last posted its earnings results on Wednesday, May 8th. The energy company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.01). The business had revenue of $76.54 million for the quarter, compared to the consensus estimate of $146.13 million. Berry Petroleum had a return on equity of 13.15% and a net margin of 18.84%. On average, analysts predict that Berry Petroleum will post 1.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.58%. Berry Petroleum’s dividend payout ratio (DPR) is 38.10%.
About Berry Petroleum
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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