Berry Co. Declares Quarterly Dividend of $0.03 (NASDAQ:BRY)

Berry Co. (NASDAQ:BRY) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Friday, November 15th will be paid a dividend of 0.03 per share by the energy company on Monday, November 25th. This represents a $0.12 annualized dividend and a yield of 2.55%. The ex-dividend date is Friday, November 15th.

Berry has raised its dividend by an average of 51.8% annually over the last three years. Berry has a payout ratio of 87.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Berry to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 81.4%.

Berry Trading Down 7.1 %

Berry stock traded down $0.36 during mid-day trading on Friday, hitting $4.70. 467,723 shares of the stock were exchanged, compared to its average volume of 1,041,462. The firm’s fifty day simple moving average is $5.33 and its two-hundred day simple moving average is $6.29. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. Berry has a 12 month low of $4.66 and a 12 month high of $8.88. The stock has a market capitalization of $361.62 million, a price-to-earnings ratio of -10.93 and a beta of 1.72.

Berry (NASDAQ:BRY) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $259.80 million during the quarter, compared to analyst estimates of $186.67 million. Berry had a negative net margin of 4.19% and a positive return on equity of 6.69%. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. Analysts forecast that Berry will post 0.63 EPS for the current year.

Insiders Place Their Bets

In other Berry news, CEO Fernando Araujo sold 33,950 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $6.22, for a total transaction of $211,169.00. Following the completion of the transaction, the chief executive officer now directly owns 253,045 shares of the company’s stock, valued at approximately $1,573,939.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their target price on shares of Berry from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th.

Berry 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.