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

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

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

Barnwell Industries Stock Down 4.1 %

Shares of Barnwell Industries stock opened at $2.80 on Wednesday. The stock has a market cap of $28.17 million, a PE ratio of -10.37 and a beta of 0.19. The business has a fifty day simple moving average of $2.41 and a 200-day simple moving average of $2.45. Barnwell Industries has a 12 month low of $2.06 and a 12 month high of $2.95.

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

Insider Activity at Barnwell Industries

In other news, major shareholder Ned L. Sherwood acquired 71,050 shares of Barnwell Industries stock in a transaction that occurred on Monday, April 15th. The stock was purchased at an average price of $2.67 per share, with a total value of $189,703.50. Following the completion of the transaction, the insider now owns 2,600,466 shares in the company, valued at $6,943,244.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Ned L. Sherwood purchased 10,650 shares of Barnwell Industries stock in a transaction on Wednesday, April 17th. The stock was bought 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 directly owns 2,617,827 shares of the company’s stock, valued at $7,277,559.06. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Ned L. Sherwood purchased 71,050 shares of Barnwell Industries stock in a transaction on Monday, April 15th. The stock was 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 $6,943,244.22. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 92,822 shares of company stock valued at $248,839. 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.