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

Equities research analysts at StockNews.com assumed coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued on Tuesday. The firm set a “hold” rating on the stock.

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

Barnwell Industries Trading Up 2.2 %

Shares of BRN stock opened at $2.79 on Tuesday. The business’s 50 day moving average is $2.37 and its two-hundred day moving average is $2.44. Barnwell Industries has a twelve month low of $2.06 and a twelve month high of $2.90. The company has a market capitalization of $28.06 million, a P/E ratio of -10.33 and a beta of 0.19.

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

Insider Buying and Selling

In related news, major shareholder Ned L. Sherwood purchased 10,650 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was bought at an average cost of $2.78 per share, with a total value of $29,607.00. Following the completion of the acquisition, the insider now directly owns 2,617,827 shares in the company, valued at approximately $7,277,559.06. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Barnwell Industries news, major shareholder Ned L. Sherwood acquired 10,650 shares of the 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 transaction, the insider now directly owns 2,617,827 shares in the company, valued at $7,277,559.06. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ned L. Sherwood acquired 71,050 shares of the stock in a transaction dated Monday, April 15th. The stock was acquired 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 of the company’s stock, valued at $6,943,244.22. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 85,111 shares of company stock valued at $227,005. 17.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Barnwell Industries

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in shares of Barnwell Industries by 15.0% in the first quarter. Renaissance Technologies LLC now owns 637,622 shares of the company’s stock worth $1,639,000 after acquiring an additional 83,286 shares in the last quarter. Stilwell Value LLC acquired a new position in shares of Barnwell Industries in the first quarter worth about $220,000. Dimensional Fund Advisors LP lifted its stake in shares of Barnwell Industries by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 62,447 shares of the company’s stock worth $152,000 after acquiring an additional 4,591 shares in the last quarter. Acadian Asset Management LLC lifted 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 worth $104,000 after acquiring an additional 24,118 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in Barnwell Industries during the first quarter valued at approximately $75,000. 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.