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

StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the stock.

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

Barnwell Industries Stock Down 4.5 %

NYSE BRN opened at $2.36 on Wednesday. The stock has a market capitalization of $23.67 million, a PE ratio of -7.15 and a beta of 0.11. The company has a 50 day moving average price of $2.73 and a two-hundred day moving average price of $2.50. Barnwell Industries has a 12-month low of $2.06 and a 12-month high of $3.20.

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

Insider Buying and Selling at Barnwell Industries

In other news, major shareholder Ned L. Sherwood acquired 24,011 shares of Barnwell Industries stock in a transaction dated Friday, May 31st. The stock was acquired at an average cost of $2.89 per share, for a total transaction of $69,391.79. Following the completion of the purchase, the insider now owns 2,767,995 shares of the company’s stock, valued at $7,999,505.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Ned L. Sherwood bought 18,034 shares of the company’s 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 completion of the transaction, the insider now owns 2,735,117 shares of the company’s stock, valued at approximately $7,685,678.77. The transaction 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 24,011 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were bought at an average cost of $2.89 per share, for a total transaction of $69,391.79. Following the transaction, the insider now directly 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. Insiders acquired 161,140 shares of company stock worth $442,854 over the last ninety days. 17.60% of the stock is currently owned by insiders.

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.