Barnwell Industries, Inc. (NYSE:BRN) Major Shareholder Acquires $189,703.50 in Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood purchased 71,050 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were bought at an average cost of $2.67 per share, with a total value of $189,703.50. Following the transaction, the insider now directly owns 2,600,466 shares of the company’s stock, valued at approximately $6,943,244.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Barnwell Industries Price Performance

Barnwell Industries stock opened at $2.83 on Friday. The company has a market cap of $28.47 million, a PE ratio of -10.48 and a beta of 0.19. The company has a fifty day moving average price of $2.39 and a two-hundred day moving average price of $2.45. Barnwell Industries, Inc. has a 12 month low of $2.06 and a 12 month high of $2.95.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TheStreet downgraded shares of Barnwell Industries from a “c” rating to a “d+” rating in a research report on Thursday, March 14th. StockNews.com initiated coverage on shares of Barnwell Industries in a report on Tuesday. They issued a “hold” rating for the company.

Institutional Investors Weigh In On Barnwell Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in Barnwell Industries by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 62,447 shares of the company’s stock valued at $152,000 after buying an additional 4,591 shares during the last quarter. Susquehanna International Group LLP bought a new stake in Barnwell Industries in the first quarter valued at $75,000. Stilwell Value LLC bought a new stake in Barnwell Industries in the first quarter valued at $220,000. Two Sigma Investments LP bought a new stake in Barnwell Industries in the third quarter valued at $40,000. Finally, Renaissance Technologies LLC lifted its stake in Barnwell Industries by 15.0% in the first quarter. Renaissance Technologies LLC now owns 637,622 shares of the company’s stock valued at $1,639,000 after buying an additional 83,286 shares during the last quarter. 40.71% of the stock is currently owned by institutional investors.

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.