Barnwell Industries (NYSE:BRN) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRNFree Report) in a research report sent to investors on Saturday morning. The firm issued a hold rating on the stock.

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

Check Out Our Latest Stock Report on Barnwell Industries

Barnwell Industries Price Performance

NYSE BRN opened at $2.37 on Friday. The firm has a market cap of $23.77 million, a price-to-earnings ratio of -8.78 and a beta of 0.19. The company has a fifty day moving average price of $2.35 and a 200-day moving average price of $2.46. Barnwell Industries has a 1 year low of $2.03 and a 1 year high of $3.10.

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

Hedge Funds Weigh In On Barnwell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its position in Barnwell Industries by 15.0% during the first quarter. Renaissance Technologies LLC now owns 637,622 shares of the company’s stock worth $1,639,000 after purchasing an additional 83,286 shares during the period. Stilwell Value LLC bought a new position in Barnwell Industries during the first quarter worth about $220,000. Dimensional Fund Advisors LP boosted its position in Barnwell Industries by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 62,447 shares of the company’s stock worth $152,000 after purchasing an additional 4,591 shares during the period. Acadian Asset Management LLC boosted its position in Barnwell Industries by 145.1% during the first quarter. Acadian Asset Management LLC now owns 40,745 shares of the company’s stock worth $104,000 after purchasing an additional 24,118 shares during the period. Finally, Susquehanna International Group LLP bought a new position in Barnwell Industries during the first quarter worth about $75,000. Institutional investors own 9.38% of the company’s stock.

About Barnwell Industries

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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.

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