Berry Petroleum Company LLC (BRY) Receives $16.67 Average Target Price from Analysts

Berry Petroleum Company LLC (NASDAQ:BRY) has earned an average recommendation of “Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $16.67.

A number of research firms recently weighed in on BRY. Piper Jaffray Companies reissued a “buy” rating and set a $12.00 target price on shares of Berry Petroleum in a report on Wednesday, January 30th. BMO Capital Markets reissued a “buy” rating and set a $13.00 target price on shares of Berry Petroleum in a report on Monday, January 7th. Zacks Investment Research raised Berry Petroleum from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Monday, October 29th. Capital One Financial lowered Berry Petroleum from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. Finally, KeyCorp began coverage on Berry Petroleum in a report on Thursday, December 20th. They set a “sector weight” rating on the stock.

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Shares of NASDAQ:BRY traded up $0.53 during trading on Monday, hitting $11.95. 488,592 shares of the company were exchanged, compared to its average volume of 826,044. Berry Petroleum has a fifty-two week low of $7.87 and a fifty-two week high of $18.55. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44.

In other news, COO Gary A. Grove acquired 20,000 shares of the firm’s stock in a transaction on Thursday, December 13th. The shares were purchased at an average cost of $10.33 per share, with a total value of $206,600.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Arthur T. Smith acquired 5,000 shares of the firm’s stock in a transaction on Thursday, December 13th. The stock was purchased at an average cost of $10.22 per share, for a total transaction of $51,100.00. The disclosure for this purchase can be found here. Corporate insiders own 2.22% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CarVal Investors LLC grew its holdings in Berry Petroleum by 2.6% in the 4th quarter. CarVal Investors LLC now owns 6,624,362 shares of the energy company’s stock valued at $57,963,000 after buying an additional 165,629 shares in the last quarter. FMR LLC bought a new stake in shares of Berry Petroleum during the 3rd quarter valued at $86,080,000. Alliancebernstein L.P. bought a new stake in shares of Berry Petroleum during the 3rd quarter valued at $81,686,000. CI Investments Inc. bought a new stake in shares of Berry Petroleum during the 3rd quarter valued at $67,373,000. Finally, Venor Capital Management LP lifted its position in shares of Berry Petroleum by 10.3% during the 4th quarter. Venor Capital Management LP now owns 3,412,702 shares of the energy company’s stock valued at $29,861,000 after acquiring an additional 318,861 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

About Berry Petroleum

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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