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

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

Separately, TheStreet downgraded shares of Barnwell Industries from a c rating to a d+ rating in a report on Thursday, March 14th.

Barnwell Industries Trading Up 1.4 %

Shares of BRN opened at $2.83 on Tuesday. The firm has a market cap of $28.47 million, a PE ratio of -10.48 and a beta of 0.19. The firm has a fifty day simple moving average of $2.39 and a two-hundred day simple moving average of $2.45. Barnwell Industries has a 1-year low of $2.06 and a 1-year high of $2.95.

Barnwell Industries (NYSE:BRN) last posted its quarterly earnings data on Monday, February 12th. The company reported ($0.07) EPS for the quarter. The company 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%.

Insider Buying and Selling

In related news, major shareholder Ned L. Sherwood bought 71,050 shares of Barnwell Industries stock in a transaction dated Monday, April 15th. The shares were acquired at an average cost of $2.67 per share, with a total value of $189,703.50. Following the completion of 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 filing with the SEC, which can be accessed through this link. In other news, major shareholder Ned L. Sherwood bought 71,050 shares of the stock in a transaction on Monday, April 15th. The stock was bought at an average cost of $2.67 per share, for a total transaction of $189,703.50. Following the completion of the purchase, the insider now directly owns 2,600,466 shares in the company, valued at $6,943,244.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ned L. Sherwood bought 10,650 shares of the stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $2.78 per share, with a total value of $29,607.00. Following the completion of the purchase, the insider now owns 2,617,827 shares of the company’s stock, valued at $7,277,559.06. The disclosure for this purchase can be found here. Insiders have bought 85,111 shares of company stock valued at $227,005 in the last ninety days. 17.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position 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 valued at $1,639,000 after purchasing an additional 83,286 shares during the period. Stilwell Value LLC acquired a new position in Barnwell Industries in the 1st quarter valued at about $220,000. Dimensional Fund Advisors LP raised its stake in shares of Barnwell Industries by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 62,447 shares of the company’s stock valued at $152,000 after acquiring an additional 4,591 shares during the period. Acadian Asset Management LLC increased its stake in Barnwell Industries by 145.1% during the 1st quarter. Acadian Asset Management LLC now owns 40,745 shares of the company’s stock worth $104,000 after buying an additional 24,118 shares during the period. Finally, Susquehanna International Group LLP purchased a new stake in Barnwell Industries during the 1st quarter worth 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.