Berry Petroleum Company LLC (BRY) Received Average Rating of “Purchase” from Brokerages

Berry Petroleum Company LLC (BRY) Received Average Rating of “Purchase” from Brokerages

Shares of Berry Petroleum Company LLC (NASDAQ:BRY) have earned an average rating of “Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.67.

A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Berry Petroleum from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, October 29th. UBS Group began coverage on Berry Petroleum in a research report on Monday, August 20th. They set a “buy” rating on the stock. Piper Jaffray Companies began coverage on Berry Petroleum in a research report on Monday, August 20th. They set an “overweight” rating and a $25.00 target price on the stock. BMO Capital Markets began coverage on Berry Petroleum in a research report on Monday, August 20th. They set an “outperform” rating on the stock. Finally, Johnson Rice began coverage on Berry Petroleum in a research report on Monday, August 20th. They set a “buy” rating and a $20.00 target price on the stock.

Shares of NASDAQ BRY traded down $0.19 during trading on Wednesday, reaching $12.96. The company had a trading volume of 640,861 shares, compared to its average volume of 280,858. Berry Petroleum has a 12 month low of $8.00 and a 12 month high of $18.55. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.

Berry Petroleum (NASDAQ:BRY) last released its quarterly earnings results on Wednesday, November 7th. The energy company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). The business had revenue of $142.95 million during the quarter, compared to analysts’ expectations of $154.10 million. As a group, sell-side analysts anticipate that Berry Petroleum will post 1.53 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 17th will be given a dividend of $0.12 per share. This is a positive change from Berry Petroleum’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.48 annualized dividend and a dividend yield of 3.70%.

Several institutional investors have recently made changes to their positions in BRY. Mobius Capital Management LLC purchased a new stake in shares of Berry Petroleum during the third quarter valued at approximately $2,611,000. Wells Fargo & Company MN purchased a new stake in shares of Berry Petroleum during the third quarter valued at approximately $10,469,000. JPMorgan Chase & Co. purchased a new stake in shares of Berry Petroleum during the third quarter valued at approximately $3,950,000. Rhumbline Advisers purchased a new stake in shares of Berry Petroleum during the third quarter valued at approximately $189,000. Finally, CarVal Investors LLC purchased a new stake in shares of Berry Petroleum during the third quarter valued at approximately $113,803,000. Institutional investors own 79.13% of the company’s stock.

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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