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

StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a research report sent to investors on Wednesday. The brokerage issued a hold rating on the stock.

Separately, TheStreet cut Barnwell Industries from a c rating to a d+ rating in a research note on Thursday, March 14th.

Barnwell Industries Price Performance

Shares of BRN opened at $2.75 on Wednesday. The firm has a 50-day simple moving average of $2.42 and a two-hundred day simple moving average of $2.45. The stock has a market cap of $27.61 million, a PE ratio of -10.17 and a beta of 0.19. Barnwell Industries has a 1-year low of $2.06 and a 1-year high of $2.95.

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

Insiders Place Their Bets

In other Barnwell Industries news, major shareholder Ned L. Sherwood acquired 10,650 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average price of $2.78 per share, for a total transaction of $29,607.00. Following the completion of the acquisition, the insider now owns 2,617,827 shares of the company’s stock, valued at approximately $7,277,559.06. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Ned L. Sherwood acquired 10,650 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average price of $2.78 per share, with a total value of $29,607.00. Following the completion of the transaction, the insider now owns 2,617,827 shares of the company’s stock, valued at $7,277,559.06. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Ned L. Sherwood bought 71,050 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was bought at an average price of $2.67 per share, with a total value of $189,703.50. Following the completion of the acquisition, 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. Insiders have acquired 92,822 shares of company stock worth $248,839 over the last three months. Company 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.