Has Berry Petroleum Corporation (BRY) Attracted A Large And Growing Short Interest?

The number of Berry Petroleum Corporation (NASDAQ:BRY) shares shorted has climbed by 67,354 shares. When looking at a stock for a potential investment, you want to know what percentage of Wall Street is betting against you. That’s what short interest tells you. The most recent short interest data has been released for the January 31st settlement date, which shows a increase in total short interest for BRY, to 1,875,837, a surge of 3.72% since January 15th. Average daily volume for Berry Petroleum Corporation at the January 31st settlement jumped to 1,073,300, as compared to 487,310 at the January 15th report. That brought days to cover to 1.747729, a 52.91% decrease from the 3.711155 days to cover recorded at the prior short interest data release. Looking at the experts’ opinion for the BRY stock we see that the average analyst recommendations at 2.1 suggests buying these shares.

Berry Petroleum Corporation (BRY) will probably climb 25.32 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $18 price as 12-month high target. This represents a whopping 55.57 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $15, which represents a return potential of 29.65 percent when compared to the closing price of the stock of $11.57 on Wednesday, February 13. The lowest price target for the stock is $11 — slightly more than -4.93 percent from BRY’s current share price.

The stock is currently hovering around the first support level of $11.12. Below this, the next support is placed in the zone of $10.67. Till the time, the BRY stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 56.8 on daily chart, which may remain a cause for concern. If the price breaks below $10.67 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $11.8 mark may result into a pull-back move towards $12.03 level.

On 13th of February, Berry Petroleum Corporation (NASDAQ:BRY) shares ended higher after a volatile session. The shares accumulated 0.71 points or 6.54 percent at $11.57 with a light trade volume of 1.006 million shares. After opening the session at $10.9, the shares went as high as $11.58 and as low as $10.9, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $968 million and now has 83.63 million shares outstanding. Berry Petroleum Corporation (BRY) stock has gained 10.72 percent of market value in 21 trading days.

BRY stock has a trailing 3-year beta of 0, offering the possibility of a lower rate of return, but also posing less risk. The portion of a company’s profit allocated to each outstanding share of common stock was -$1.51 a share in the trailing twelve months. The stock’s value has surged 32.23 percent year to date (YTD) against a decline of 0 percent in 12 month’s time. The company’s shares still trade -37.63 percent away from its 1-year high of $18.55 and 47.01 percent up from 52-week low of $7.87. The average consensus rating on the company is 2.1, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a sell.

Shares of Berry Petroleum Corporation (BRY) are trading at a P/E ratio of 0 times earnings reported for the past 12 months. The industry BRY operates in has an average P/E of 14.33. Its P/E ratio went as low as 0X and as high as 0 over the 5-year span. Further, it is sporting a 2.68 on the Price-to-Sales ratio. Compare this with the industry average P/S of 99.86. 45.6 percent is the gross profit margin for Berry Petroleum Corporation and operating margin sits at 2.7 percent. Along with this, the net profit margin is -34 percent.

Let’s take a look at some insider activity at Berry Petroleum Corporation (NASDAQ:BRY) and see the pattern. The earliest insider trade took place on 12/13/2018. Grove Gary A gathered a total of 20 thousand shares of company at average share price of $10.33. The total for the purchase was set at $206.6 thousand. After this transaction, the EVP & COO account balance stood at 109.92 thousand shares. The stock grew 5.13 percent since that insider purchase. On 12/13/2018, Smith Arthur T., President & CEO, purchased 5 thousand shares at a price per share of $10.22. This added 51.1 thousand shares to the insider’s fortune and the stock saw a 6.26 percent rally in value since the news became public. This transaction left 152.53 thousand shares in the President & CEO account.

On 07/30/2018, COO Grove Gary A performed a purchase transaction worth $136 thousand. This purchase at $13.6 each has added 10 thousand shares into the insider’s portfolio position. Meanwhile, shares have recorded -20.15 percent decrease since the transaction was reported. The insider now is left with 39.8 thousand shares remaining in the account. Goldman Sachs Asset Management, who performs the 10% Owner job, sold 516.37 thousand shares for $6.8 million. The disposal occurred on 07/30/2018 was priced at $13.16 per share. The share price plunged -17.48 percent since the reporting date. Goldman Sachs Asset Management now left with a stake of 6.9 million BRY stock worth $79.78 million after the insider selling.