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

Berry Co. (NASDAQ:BRY) announced a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Investors of record on Saturday, March 22nd will be paid a dividend of 0.03 per share by the energy company on Tuesday, April 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, March 21st.

Berry has increased its dividend by an average of 17.0% annually over the last three years. Berry has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Berry to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 19.7%.

Berry Trading Down 11.5 %

Shares of NASDAQ:BRY opened at $3.22 on Friday. Berry has a 12 month low of $3.16 and a 12 month high of $8.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $4.31 and its 200 day simple moving average is $4.66. The firm has a market cap of $247.74 million, a price-to-earnings ratio of 2.98 and a beta of 1.67.

Berry (NASDAQ:BRY) last issued its quarterly earnings data on Wednesday, March 12th. The energy company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. Berry had a net margin of 9.40% and a return on equity of 6.50%. The business had revenue of $167.06 million for the quarter, compared to analyst estimates of $173.00 million. As a group, research analysts forecast that Berry will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.