StockNews.com Initiates Coverage on Barnwell Industries (NYSE:BRN)

StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a research note released on Sunday morning. The brokerage issued a hold rating on the stock.

Barnwell Industries Stock Up 4.0 %

Barnwell Industries stock opened at $2.34 on Friday. The stock has a market cap of $23.47 million, a P/E ratio of -7.09 and a beta of 0.15. Barnwell Industries has a twelve month low of $2.06 and a twelve month high of $3.20. The company’s 50-day moving average price is $2.51 and its two-hundred day moving average price is $2.50.

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

Insider Activity

In other Barnwell Industries news, major shareholder Ned L. Sherwood purchased 24,011 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $2.89 per share, for a total transaction of $69,391.79. Following the completion of the transaction, the insider now owns 2,767,995 shares in the company, valued at $7,999,505.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Barnwell Industries news, major shareholder Ned L. Sherwood purchased 24,011 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $2.89 per share, for a total transaction of $69,391.79. Following the completion of the transaction, the insider now owns 2,767,995 shares in the company, valued at $7,999,505.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ned L. Sherwood purchased 18,034 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was 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 disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 54,681 shares of company stock worth $155,509. Corporate insiders own 17.60% 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.