Barnwell Industries (NYSE:BRN) Receives New Coverage from Analysts at StockNews.com

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

Barnwell Industries Price Performance

Shares of BRN stock traded down $0.16 during trading hours on Tuesday, reaching $2.31. 3,459 shares of the company were exchanged, compared to its average volume of 14,377. Barnwell Industries has a fifty-two week low of $2.06 and a fifty-two week high of $3.20. The stock’s fifty day moving average is $2.40 and its two-hundred day moving average is $2.48. The company has a market cap of $23.16 million, a price-to-earnings ratio of -7.00 and a beta of 0.15.

Barnwell Industries (NYSE:BRN) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $5.77 million for the quarter. Barnwell Industries had a negative return on equity of 18.20% and a negative net margin of 13.29%.

Insider Buying and Selling at Barnwell Industries

In other Barnwell Industries news, major shareholder Ned L. Sherwood bought 24,011 shares of the company’s stock in a transaction on Friday, May 31st. The stock was bought at an average price of $2.89 per share, for a total transaction of $69,391.79. Following the transaction, the insider now owns 2,767,995 shares of the company’s stock, valued at approximately $7,999,505.55. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Ned L. Sherwood acquired 18,034 shares of Barnwell Industries stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average price of $2.81 per share, with a total value of $50,675.54. Following the purchase, the insider now directly owns 2,735,117 shares of the company’s stock, valued at $7,685,678.77. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ned L. Sherwood acquired 24,011 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average price of $2.89 per share, with a total value of $69,391.79. Following the acquisition, the insider now owns 2,767,995 shares of the company’s stock, valued at approximately $7,999,505.55. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 46,251 shares of company stock valued at $131,894. 17.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC increased its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 355,534 shares of the company’s stock after purchasing an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned 3.55% of Barnwell Industries worth $836,000 as of its most recent filing with the SEC. 40.71% of the stock is currently owned by hedge funds and other institutional investors.

Barnwell Industries Company Profile

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.