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

Analysts at StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a research report issued to clients and investors on Tuesday. 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 report on Thursday, March 14th.

Barnwell Industries Stock Up 4.2 %

Shares of BRN stock opened at $2.73 on Tuesday. The firm has a market capitalization of $27.46 million, a price-to-earnings ratio of -10.11 and a beta of 0.19. Barnwell Industries has a 12-month low of $2.06 and a 12-month high of $2.90. The firm has a fifty day moving average of $2.36 and a 200-day moving average of $2.44.

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 net margin of 11.35% and a negative return on equity of 14.70%.

Institutional Investors Weigh In On Barnwell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stilwell Value LLC bought a new stake in shares of Barnwell Industries in the 1st quarter valued at about $220,000. Renaissance Technologies LLC raised its holdings in shares of Barnwell Industries by 15.0% in the 1st 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. Susquehanna International Group LLP bought a new stake in shares of Barnwell Industries in the 1st quarter valued at about $75,000. Dimensional Fund Advisors LP bought a new stake in shares of Barnwell Industries in the 1st quarter valued at about $78,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Barnwell Industries by 145.1% in the 1st quarter. Acadian Asset Management LLC now owns 40,745 shares of the company’s stock valued at $104,000 after purchasing an additional 24,118 shares during the period. 40.71% of the stock is owned by institutional investors.

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.