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

Stock analysts at StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a note issued to investors on Thursday. The firm set a “hold” rating on the stock.

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

Barnwell Industries Price Performance

BRN stock opened at $2.67 on Thursday. The company has a fifty day moving average price of $2.51 and a 200 day moving average price of $2.47. Barnwell Industries has a 12 month low of $2.06 and a 12 month high of $2.99. The company has a market cap of $26.86 million, a price-to-earnings ratio of -9.89 and a beta of 0.15.

Barnwell Industries (NYSE:BRN) last released its quarterly 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 business had revenue of $6.16 million during the quarter.

Insider Activity at Barnwell Industries

In other news, major shareholder Ned L. Sherwood purchased 10,650 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average cost of $2.78 per share, with a total value of $29,607.00. Following the purchase, the insider now directly owns 2,617,827 shares of the company’s stock, valued at $7,277,559.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Ned L. Sherwood purchased 10,650 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average cost of $2.78 per share, with a total value of $29,607.00. Following the purchase, the insider now directly owns 2,617,827 shares of the company’s stock, valued at $7,277,559.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ned L. Sherwood purchased 17,048 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of $2.71 per share, for a total transaction of $46,200.08. Following the completion of the purchase, the insider now directly owns 2,687,025 shares in the company, valued at $7,281,837.75. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 109,870 shares of company stock valued at $295,039. 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.