CarVal Investors LLC Invests $113.80 Million in Berry Petroleum Company LLC (BRY) Stock
CarVal Investors LLC bought a new stake in Berry Petroleum Company LLC (NASDAQ:BRY) during the 3rd quarter, Holdings Channel reports. The firm bought 6,458,733 shares of the energy company’s stock, valued at approximately $113,803,000. Berry Petroleum accounts for about 52.0% of CarVal Investors LLC’s portfolio, making the stock its largest holding. CarVal Investors LLC owned 0.08% of Berry Petroleum at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Rhumbline Advisers acquired a new position in Berry Petroleum in the 3rd quarter valued at about $189,000. JPMorgan Chase & Co. acquired a new position in Berry Petroleum in the 3rd quarter valued at about $3,950,000. Wells Fargo & Company MN acquired a new position in Berry Petroleum in the 3rd quarter valued at about $10,469,000. Finally, Mobius Capital Management LLC acquired a new position in Berry Petroleum in the 3rd quarter valued at about $2,611,000. Institutional investors own 2.47% of the company’s stock.
BRY has been the topic of several recent analyst reports. Piper Jaffray Companies initiated coverage on shares of Berry Petroleum in a report on Monday, August 20th. They issued an “overweight” rating and a $25.00 price objective on the stock. ValuEngine lowered shares of Berry Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, November 8th. Capital One Financial initiated coverage on shares of Berry Petroleum in a report on Friday, August 24th. They issued an “overweight” rating and a $24.00 price objective on the stock. Zacks Investment Research lowered shares of Berry Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. Finally, Tudor Pickering initiated coverage on shares of Berry Petroleum in a report on Tuesday, August 21st. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $20.00.
Berry Petroleum (NASDAQ:BRY) last issued its quarterly earnings data on Wednesday, November 7th. The energy company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.07). The firm had revenue of $142.95 million for the quarter, compared to analysts’ expectations of $154.10 million. As a group, equities analysts predict that Berry Petroleum Company LLC will post 1.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be issued a $0.12 dividend. This is a positive change from Berry Petroleum’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, December 14th.
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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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