Insider Buying: Barnwell Industries, Inc. (NYSE:BRN) Major Shareholder Acquires 71,050 Shares of Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood acquired 71,050 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were purchased at an average price 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 of the company’s stock, valued at $6,943,244.22. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Barnwell Industries Stock Performance

Barnwell Industries stock opened at $2.79 on Friday. The stock has a market capitalization of $28.07 million, a price-to-earnings ratio of -10.33 and a beta of 0.19. Barnwell Industries, Inc. has a 52-week low of $2.06 and a 52-week high of $2.90. The stock’s 50 day moving average price is $2.38 and its two-hundred day moving average price is $2.44.

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

Analyst Ratings Changes

BRN has been the topic of a number of research analyst reports. TheStreet cut shares of Barnwell Industries from a “c” rating to a “d+” rating in a research report on Thursday, March 14th. StockNews.com started coverage on Barnwell Industries in a research report on Tuesday. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Barnwell Industries

A number of hedge funds have recently added to or reduced their stakes in BRN. Two Sigma Investments LP bought a new position in shares of Barnwell Industries in the 3rd quarter worth $40,000. Susquehanna International Group LLP acquired a new position in shares of Barnwell Industries during the first quarter valued at about $75,000. Dimensional Fund Advisors LP bought a new stake in shares of Barnwell Industries during the first quarter worth about $78,000. 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 worth $104,000 after acquiring an additional 24,118 shares during the last quarter. Finally, Stilwell Value LLC bought a new position in Barnwell Industries in the 1st quarter valued at about $220,000. Institutional investors and hedge funds own 40.71% of the company’s stock.

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.