Hotchkis & Wiley Capital Management LLC Sells 3,006,000 Shares of Berry Co. (NASDAQ:BRY)

Hotchkis & Wiley Capital Management LLC trimmed its holdings in shares of Berry Co. (NASDAQ:BRY) by 47.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,334,610 shares of the energy company’s stock after selling 3,006,000 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Berry were worth $17,140,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Centiva Capital LP bought a new position in Berry during the 3rd quarter worth $268,000. ClearAlpha Technologies LP increased its position in shares of Berry by 7.8% in the third quarter. ClearAlpha Technologies LP now owns 55,516 shares of the energy company’s stock worth $285,000 after purchasing an additional 3,998 shares during the period. Paloma Partners Management Co raised its stake in Berry by 125.8% in the third quarter. Paloma Partners Management Co now owns 50,490 shares of the energy company’s stock valued at $260,000 after purchasing an additional 28,132 shares in the last quarter. PDT Partners LLC lifted its position in Berry by 20.1% during the third quarter. PDT Partners LLC now owns 98,730 shares of the energy company’s stock worth $507,000 after purchasing an additional 16,522 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Berry by 8.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 306,951 shares of the energy company’s stock worth $1,578,000 after buying an additional 22,709 shares in the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler dropped their target price on shares of Berry from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Monday, November 18th.

Berry Trading Up 1.2 %

Shares of BRY stock opened at $4.17 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. Berry Co. has a fifty-two week low of $3.88 and a fifty-two week high of $8.88. The company has a market cap of $320.84 million, a PE ratio of 3.86 and a beta of 1.67. The stock’s fifty day moving average price is $4.86 and its two-hundred day moving average price is $5.79.

Berry (NASDAQ:BRY) last released its earnings results 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 the consensus estimate of $186.67 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. The business’s revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS. Equities analysts predict that Berry Co. will post 0.6 EPS for the current fiscal year.

Berry Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, November 15th. Berry’s payout ratio is 11.11%.

About Berry

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.