Capital One Financial Comments on Berry Petroleum Company LLC’s Q1 2019 Earnings (BRY)
Berry Petroleum Company LLC (NASDAQ:BRY) – Investment analysts at Capital One Financial upped their Q1 2019 earnings per share (EPS) estimates for shares of Berry Petroleum in a report released on Thursday, April 18th. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings of $0.40 per share for the quarter, up from their prior forecast of $0.36.
Several other brokerages have also weighed in on BRY. Piper Jaffray Companies restated a “buy” rating and issued a $12.00 price objective on shares of Berry Petroleum in a report on Wednesday, January 30th. Zacks Investment Research upgraded Berry Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday, March 11th. BMO Capital Markets restated a “buy” rating and issued a $13.00 price objective on shares of Berry Petroleum in a report on Monday, January 7th. Finally, ValuEngine lowered Berry Petroleum from a “sell” rating to a “strong sell” rating in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $17.50.
Berry Petroleum (NASDAQ:BRY) last announced its quarterly earnings data on Wednesday, March 6th. The energy company reported $0.41 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The firm had revenue of $280.35 million during the quarter, compared to analyst estimates of $157.20 million.
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Thursday, March 14th. Berry Petroleum’s dividend payout ratio is 38.10%.
In other news, Director Benefit Street Partners Llc sold 76,512 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $11.59, for a total transaction of $886,774.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.22% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BRY. Legal & General Group Plc acquired a new position in Berry Petroleum during the third quarter valued at $35,000. Great West Life Assurance Co. Can acquired a new position in Berry Petroleum during the fourth quarter valued at $63,000. Barclays PLC raised its position in Berry Petroleum by 47.6% during the fourth quarter. Barclays PLC now owns 7,323 shares of the energy company’s stock valued at $64,000 after buying an additional 2,361 shares during the period. Meeder Asset Management Inc. acquired a new position in Berry Petroleum during the first quarter valued at $97,000. Finally, New York State Common Retirement Fund acquired a new position in Berry Petroleum during the fourth quarter valued at $129,000. 81.29% of the stock is owned by institutional investors and hedge funds.
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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