Barnwell Industries, Inc. (NYSE:BRN) Major Shareholder Ned L. Sherwood Buys 10,650 Shares of Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood bought 10,650 shares of Barnwell Industries stock in a transaction on Wednesday, April 17th. The shares were acquired 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 owns 2,617,827 shares of the company’s stock, valued at approximately $7,277,559.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Barnwell Industries Price Performance

BRN opened at $2.79 on Thursday. The firm has a market cap of $28.06 million, a P/E ratio of -10.33 and a beta of 0.19. Barnwell Industries, Inc. has a 1-year low of $2.06 and a 1-year high of $2.90. The company has a 50 day simple moving average of $2.37 and a two-hundred day simple moving average of $2.44.

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

Hedge Funds Weigh In On Barnwell Industries

A number of hedge funds have recently modified their holdings of BRN. Acadian Asset Management LLC boosted its position 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 purchasing an additional 24,118 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Barnwell Industries in the first quarter worth approximately $78,000. Renaissance Technologies LLC boosted its position in shares of Barnwell Industries by 15.0% during 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 during the last quarter. Two Sigma Investments LP bought a new position in shares of Barnwell Industries during the third quarter worth $40,000. Finally, Stilwell Value LLC bought a new position in shares of Barnwell Industries during the first quarter worth $220,000. 40.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TheStreet cut shares of Barnwell Industries from a “c” rating to a “d+” rating in a report on Thursday, March 14th. StockNews.com initiated coverage on shares of Barnwell Industries in a report on Tuesday. They set a “hold” rating for the company.

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.