Berry Petroleum Company LLC (BRY) Given Consensus Rating of “Buy” by Analysts

Berry Petroleum Company LLC (NASDAQ:BRY) has been given an average recommendation of “Buy” by the twelve research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $16.67.

BRY has been the subject of several recent analyst reports. KeyCorp initiated coverage on shares of Berry Petroleum in a research note on Thursday, December 20th. They set a “sector weight” rating for the company. Capital One Financial cut shares of Berry Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. BMO Capital Markets reaffirmed a “buy” rating and set a $13.00 price objective on shares of Berry Petroleum in a research note on Monday, January 7th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $11.00 price objective on shares of Berry Petroleum in a research note on Wednesday, January 9th. Finally, Zacks Investment Research raised shares of Berry Petroleum from a “strong sell” rating to a “hold” rating in a research note on Monday.

In other Berry Petroleum news, Director Benefit Street Partners Llc sold 76,512 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at this link. 2.22% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BRY. Wells Fargo & Company MN bought a new stake in shares of Berry Petroleum in the 3rd quarter worth approximately $10,469,000. JPMorgan Chase & Co. bought a new stake in Berry Petroleum during the 3rd quarter valued at $3,950,000. Rhumbline Advisers bought a new stake in Berry Petroleum during the 3rd quarter valued at $189,000. CarVal Investors LLC bought a new stake in Berry Petroleum during the 3rd quarter valued at $113,803,000. Finally, Cedar Capital LLC bought a new stake in Berry Petroleum during the 3rd quarter valued at $1,637,000. 81.77% of the stock is owned by institutional investors and hedge funds.

NASDAQ:BRY traded up $0.12 during mid-day trading on Friday, hitting $11.82. 6,436,600 shares of the stock traded hands, compared to its average volume of 1,015,953. The stock has a market cap of $955.32 million and a P/E ratio of 9.38. Berry Petroleum has a 12-month low of $7.87 and a 12-month high of $18.55. The company has a current ratio of 1.59, a quick ratio of 0.71 and a debt-to-equity ratio of 0.39.

Berry Petroleum (NASDAQ:BRY) last issued its quarterly earnings data on Wednesday, March 6th. The energy company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $280.35 million for the quarter, compared to analysts’ expectations of $157.20 million. On average, equities analysts forecast that Berry Petroleum will post 1.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 4.06%. Berry Petroleum’s dividend payout ratio is presently 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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Analyst Recommendations for Berry Petroleum (NASDAQ:BRY)

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