Sun Sep 15 14:25:12 UTC 2024: ## Berry Co. (BRY) Sees Increased Institutional Interest and Insider Selling
**San Francisco, CA – September 15, 2024** – Berry Co. (NASDAQ: BRY), an independent energy company, has seen a surge in institutional investor interest, with several funds increasing their holdings in the second quarter. Meeder Asset Management Inc. led the way, boosting its stake by 43.5% to own 7,212 shares worth $47,000.
Other notable investors include Charles Schwab Investment Management Inc., which raised its stake by 11.2%, and Harbor Capital Advisors Inc., which significantly increased its position by 228.7%. These moves indicate growing confidence in Berry’s future prospects.
However, the company also faced a significant insider sale. CEO Fernando Araujo sold 33,950 shares on August 23rd for a total value of $211,169.00. This transaction may raise questions about the CEO’s confidence in the company’s future performance, though the filing indicated personal reasons for the sale.
Berry’s recent earnings report, released on August 9th, showed a mixed performance. While the company surpassed revenue estimates, it missed on earnings per share, reporting $0.18 EPS compared to the expected $0.20. This shortfall may have contributed to the CEO’s decision to sell shares.
Despite the mixed performance, Berry continues to pay a quarterly dividend of $0.12 per share, representing a yield of 8.86%. The company’s dividend payout ratio (DPR) remains high at 4,800.00%.
Analysts remain cautiously optimistic about Berry’s future, with Piper Sandler lowering its target price to $7.00 while maintaining a “neutral” rating.
**Institutional investors currently own 94.88% of Berry’s stock.**
To learn more about Berry Co. and its recent performance, visit MarketBeat.com or HoldingsChannel.com for detailed information on institutional holdings and insider trades.
First Piper 