Berry (NASDAQ:BRY) Raised to Hold at Zacks Research

Berry (NASDAQ:BRY) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the stock. Johnson Rice lowered shares of Berry from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a research note on Tuesday, September 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Berry in a research report on Monday. Finally, Wall Street Zen lowered shares of Berry from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $4.00.

Berry Stock Down 1.2%

BRY stock opened at $3.36 on Tuesday. The stock has a market capitalization of $260.77 million, a P/E ratio of -2.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.81 and a quick ratio of 0.81. Berry has a 1-year low of $2.11 and a 1-year high of $5.09. The business has a fifty day moving average price of $3.57 and a 200-day moving average price of $3.16.

Berry (NASDAQ:BRY) last released its quarterly earnings data on Wednesday, November 5th. The energy company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.15). Berry had a positive return on equity of 2.95% and a negative net margin of 12.42%.The business had revenue of $151.14 million during the quarter, compared to the consensus estimate of $169.50 million. Equities analysts forecast that Berry will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Berry

Hedge funds have recently modified their holdings of the business. PharVision Advisers LLC bought a new position in Berry in the 3rd quarter worth $149,000. Water Island Capital LLC bought a new position in shares of Berry in the third quarter worth about $540,000. Quarry LP purchased a new position in shares of Berry during the 3rd quarter valued at about $27,000. Qube Research & Technologies Ltd grew its stake in shares of Berry by 28.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,988,340 shares of the energy company’s stock valued at $7,516,000 after acquiring an additional 442,296 shares during the period. Finally, Millennium Management LLC raised its stake in Berry by 356.0% during the 3rd quarter. Millennium Management LLC now owns 1,707,138 shares of the energy company’s stock worth $6,453,000 after acquiring an additional 1,332,780 shares during the period. Institutional investors own 94.88% of the company’s stock.

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.