Insider Buying: Barnwell Industries, Inc. (NYSE:BRN) Major Shareholder Acquires 6,524 Shares of Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood purchased 6,524 shares of Barnwell Industries stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $2.79 per share, for a total transaction of $18,201.96. Following the completion of the transaction, the insider now owns 2,714,825 shares in the company, valued at $7,574,361.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Barnwell Industries Stock Performance

NYSE BRN opened at $2.83 on Thursday. The stock has a market cap of $28.47 million, a P/E ratio of -10.54 and a beta of 0.15. Barnwell Industries, Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $2.99. The stock has a 50 day simple moving average of $2.55 and a two-hundred day simple moving average of $2.47.

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

Wall Street Analyst Weigh In

BRN has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of Barnwell Industries in a research note on Thursday, May 2nd. They issued a “hold” rating on the stock. TheStreet downgraded shares of Barnwell Industries from a “c” rating to a “d+” rating in a research note on Thursday, March 14th.

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.