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

StockNews.com assumed coverage on shares of Barnwell Industries (NYSE:BRN) in a research note issued 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 report on Thursday, March 14th.

Barnwell Industries Stock Down 4.1 %

BRN opened at $2.80 on Wednesday. The firm has a 50 day moving average price of $2.41 and a 200-day moving average price of $2.45. Barnwell Industries has a twelve month low of $2.06 and a twelve month high of $2.95. The stock has a market capitalization of $28.17 million, a price-to-earnings ratio of -10.37 and a beta of 0.19.

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

Insider Activity at Barnwell Industries

In other Barnwell Industries news, major shareholder Ned L. Sherwood bought 71,050 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 2,600,466 shares of the company’s stock, valued at approximately $6,943,244.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Ned L. Sherwood purchased 10,650 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $2.78 per share, for a total transaction of $29,607.00. Following the completion of the transaction, the insider now directly owns 2,617,827 shares in the company, valued at approximately $7,277,559.06. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ned L. Sherwood bought 71,050 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average price of $2.67 per share, with a total value of $189,703.50. Following the transaction, the insider now owns 2,600,466 shares of the company’s stock, valued at approximately $6,943,244.22. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 92,822 shares of company stock worth $248,839. 17.60% of the stock is owned by company insiders.

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.