Q3 2020 Earnings Forecast for Berry Petroleum Company LLC Issued By Piper Jaffray Companies (NASDAQ:BRY)

Berry Petroleum Company LLC (NASDAQ:BRY) – Stock analysts at Piper Jaffray Companies reduced their Q3 2020 earnings estimates for Berry Petroleum in a research note issued on Tuesday, November 19th. Piper Jaffray Companies analyst K. Harrison now expects that the energy company will post earnings per share of $0.31 for the quarter, down from their previous estimate of $0.33. Piper Jaffray Companies also issued estimates for Berry Petroleum’s Q4 2020 earnings at $0.30 EPS, FY2020 earnings at $1.25 EPS and FY2021 earnings at $0.75 EPS.

Berry Petroleum (NASDAQ:BRY) last announced its earnings results on Thursday, November 7th. The energy company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $194.67 million for the quarter, compared to the consensus estimate of $160.70 million. Berry Petroleum had a net margin of 25.26% and a return on equity of 11.49%.

Other equities research analysts also recently issued reports about the stock. ValuEngine raised shares of Berry Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded shares of Berry Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. BMO Capital Markets downgraded shares of Berry Petroleum from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $13.00 to $6.50 in a research note on Wednesday. Tudor Pickering downgraded shares of Berry Petroleum from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a research note on Wednesday. Finally, Johnson Rice downgraded shares of Berry Petroleum from a “buy” rating to an “accumulate” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $10.38.

Shares of BRY opened at $7.04 on Friday. The firm’s 50 day simple moving average is $9.93 and its 200 day simple moving average is $9.95. The company has a market capitalization of $720.88 million, a P/E ratio of 5.59, a P/E/G ratio of 0.44 and a beta of 2.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.87 and a quick ratio of 0.87. Berry Petroleum has a 1-year low of $6.87 and a 1-year high of $13.49.

In other Berry Petroleum news, Director Benefit Street Partners Llc sold 1,100,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $11.30, for a total transaction of $12,430,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.59% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new position in Berry Petroleum during the second quarter valued at approximately $53,000. Marshall Wace North America L.P. bought a new position in shares of Berry Petroleum in the first quarter worth approximately $63,000. Bank of Montreal Can grew its holdings in shares of Berry Petroleum by 496.1% in the second quarter. Bank of Montreal Can now owns 6,122 shares of the energy company’s stock worth $65,000 after purchasing an additional 5,095 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Berry Petroleum in the second quarter worth approximately $66,000. Finally, Versant Capital Management Inc bought a new position in shares of Berry Petroleum in the second quarter worth approximately $67,000.

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.

Further Reading: Outstanding Shares and The Effect on Share Price

Earnings History and Estimates for Berry Petroleum (NASDAQ:BRY)

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