Berry Corporation (NASDAQ: BRY) stock fell -4.64% on Thursday to $6.57 against a previous-day closing price of $6.89. With 0.57 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.73 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $6.76 whereas the lowest price it dropped to was $6.49. The 52-week range on BRY shows that it touched its highest point at $10.19 and its lowest point at $5.78 during that stretch. It currently has a 1-year price target of $10.20. With its current market cap of 504.18 million, BRY has annualized dividend of $0.48 while the current yield stands at 7.31%. Beta for the stock currently stands at 2.21.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BRY was down-trending over the past week, with a drop of -3.24%, but this was down by -10.61% over a month. Three-month performance dropped to -26.63% while six-month performance fell -21.75%. The stock lost -30.19% in the past year, while it has lost -13.34% so far this year. A look at the trailing 12-month EPS for BRY yields 3.68 with Next year EPS estimates of 0.71. For the next quarter, that number is 0.06. This implies an EPS growth rate of -77.00% for this year and 25.22% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 19.70%.
Float and Shares Shorts:
At present, 76.11 million BRY shares are outstanding with a float of 74.42 million shares on hand for trading. On May 14, 2023, short shares totaled 2.82 million, which was 3.66% higher than short shares on Apr 13, 2023. In addition to Mr. Arthur T. Smith as the firm’s Exec. Chairman, Mr. Fernando Araujo serves as its Chief Exec. Officer.
Through their ownership of 96.18% of BRY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.84% of BRY, in contrast to 46.86% held by mutual funds. Shares owned by individuals account for 24.61%. As the largest shareholder in BRY with 11.33% of the stake, Hotchkis & Wiley Capital Manageme holds 8,581,790 shares worth 8,581,790. A second-largest stockholder of BRY, Oaktree Capital Management LP, holds 6,697,000 shares, controlling over 8.84% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in BRY, holding 5,639,983 shares or 7.44% stake. With a 5.58% stake in BRY, the Fidelity Low Priced Stock Fund is the largest stakeholder. A total of 4,228,188 shares are owned by the mutual fund manager. The Hotchkis & Wiley Small Cap Value, which owns about 3.35% of BRY stock, is the second-largest Mutual Fund holder. It holds 2,538,800 shares valued at 19.4 million. Allspring Special Small Cap Value holds 2.84% of the stake in BRY, owning 2,149,686 shares worth 16.42 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, BRY reported revenue of $293.79M and operating income of $104.59M. The EBITDA in the recently reported quarter was $142.60M and diluted EPS was $0.52.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BRY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BRY analysts setting a high price target of $11.00 and a low target of $7.00, the average target price over the next 12 months is $9.25. Based on these targets, BRY could surge 67.43% to reach the target high and rise by 6.54% to reach the target low. Reaching the average price target will result in a growth of 40.79% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, BRY has a current ratio of $1.15, which is $1.15 over the trailing 12-months, while a dividend of $0.33 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and BRY currently yields $17.5. In the past year, BRY’s dividend yield has been $17.5, but when looking at the stock over the past five years, its yield has been $4.92. Accordingly, BRY has a current buyback yield of $8.77. This was $8.77 for the TTM.
Summary of Insider Activity:
Insiders traded BRY stock several times over the past three months with 9 Buys and 12 Sells. In these transactions, 724,770 shares were bought while 503,116 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 50 over the past year. The total number of shares bought during that period was 1,182,478 while 15,091,447 shares were sold.