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

Analysts at StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a report issued on Tuesday. The brokerage set a “hold” rating on the stock.

Separately, TheStreet downgraded Barnwell Industries from a “c” rating to a “d+” rating in a research note on Thursday, March 14th.

Barnwell Industries Stock Up 2.2 %

Shares of BRN stock opened at $2.79 on Tuesday. The stock has a market cap of $28.06 million, a price-to-earnings ratio of -10.33 and a beta of 0.19. The business’s fifty day moving average is $2.37 and its 200 day moving average is $2.44. Barnwell Industries has a twelve month low of $2.06 and a twelve month high of $2.90.

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

Insider Buying and Selling at Barnwell Industries

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

Institutional Trading of Barnwell Industries

Hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP acquired a new position in Barnwell Industries in the 3rd quarter worth about $40,000. Dimensional Fund Advisors LP purchased a new position in shares of Barnwell Industries during the first quarter worth $78,000. Susquehanna International Group LLP purchased a new position in shares of Barnwell Industries during the first quarter worth $75,000. Acadian Asset Management LLC raised its stake in shares of Barnwell Industries by 145.1% in the first quarter. Acadian Asset Management LLC now owns 40,745 shares of the company’s stock valued at $104,000 after acquiring an additional 24,118 shares in the last quarter. Finally, Stilwell Value LLC acquired a new stake in shares of Barnwell Industries in the first quarter valued at $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.