Barnwell Industries (NYSE:BRN) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a research note published on Tuesday. The brokerage issued a hold rating on the stock.

Separately, TheStreet cut shares of Barnwell Industries from a c rating to a d+ rating in a research note on Thursday, March 14th.

Barnwell Industries Stock Performance

BRN opened at $2.79 on Tuesday. Barnwell Industries has a fifty-two week low of $2.06 and a fifty-two week high of $2.90. The company has a fifty day moving average of $2.38 and a two-hundred day moving average of $2.44. The stock has a market capitalization of $28.07 million, a price-to-earnings ratio of -10.33 and a beta of 0.19.

Barnwell Industries (NYSE:BRN) last released its earnings results on Monday, February 12th. The company reported ($0.07) EPS for the quarter. The company had revenue of $6.16 million for the quarter. Barnwell Industries had a negative return on equity of 14.70% and a negative net margin of 11.35%.

Insider Transactions at Barnwell Industries

In related news, major shareholder Ned L. Sherwood bought 10,650 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average price of $2.78 per share, with a total value of $29,607.00. Following the completion of the purchase, the insider now directly owns 2,617,827 shares of the company’s stock, valued at $7,277,559.06. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Barnwell Industries news, major shareholder Ned L. Sherwood acquired 10,650 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was bought at an average price of $2.78 per share, with a total value of $29,607.00. Following the purchase, the insider now owns 2,617,827 shares in the company, valued at $7,277,559.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ned L. Sherwood acquired 71,050 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were acquired at an average cost of $2.67 per share, with a total value of $189,703.50. Following the purchase, the insider now owns 2,600,466 shares in the company, valued at approximately $6,943,244.22. The disclosure for this purchase can be found here. Insiders purchased 85,111 shares of company stock valued at $227,005 over the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Institutional Trading of Barnwell Industries

Several large investors have recently bought and sold shares of BRN. Two Sigma Investments LP purchased a new stake in Barnwell Industries during the 3rd quarter valued at about $40,000. Susquehanna International Group LLP purchased a new stake in Barnwell Industries during the 1st quarter valued at about $75,000. Dimensional Fund Advisors LP acquired a new position in Barnwell Industries in the 1st quarter valued at about $78,000. Acadian Asset Management LLC boosted its holdings in Barnwell Industries by 145.1% in the 1st quarter. Acadian Asset Management LLC now owns 40,745 shares of the company’s stock valued at $104,000 after purchasing an additional 24,118 shares during the last quarter. Finally, Stilwell Value LLC acquired a new position in Barnwell Industries in the 1st quarter valued at about $220,000. Hedge funds and other institutional investors own 40.71% of the company’s stock.

About Barnwell Industries

Barnwell Industries, Inc acquires, develops, produces, and sells oil and natural gas in Canada. The company operates through three segments: Oil and Natural Gas, Land Investment, and Contract Drilling. It also acquires and develops crude oil and natural gas assets in the province of Alberta, as well as invests in land interests in Hawaii.