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

Investment analysts at StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN) in a report issued on Saturday. The brokerage 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 note on Thursday, March 14th.

Barnwell Industries Price Performance

Barnwell Industries stock opened at $2.56 on Friday. The firm’s 50 day moving average price is $2.60 and its 200-day moving average price is $2.48. Barnwell Industries has a 1 year low of $2.06 and a 1 year high of $2.99. The stock has a market cap of $25.68 million, a P/E ratio of -7.76 and a beta of 0.15.

Barnwell Industries (NYSE:BRN) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.18) EPS for the quarter. The company had revenue of $5.77 million during the quarter. Barnwell Industries had a negative return on equity of 18.20% and a negative net margin of 13.29%.

Insider Activity

In related news, major shareholder Ned L. Sherwood acquired 71,050 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was purchased at an average cost of $2.67 per share, for a total transaction of $189,703.50. Following the purchase, 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 is available at the SEC website. In other Barnwell Industries news, major shareholder Ned L. Sherwood bought 17,048 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average cost of $2.71 per share, for a total transaction of $46,200.08. Following the completion of the transaction, the insider now directly owns 2,687,025 shares of the company’s stock, valued at approximately $7,281,837.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ned L. Sherwood bought 71,050 shares of the stock in a transaction dated Monday, April 15th. The stock was bought at an average price of $2.67 per share, for a total transaction of $189,703.50. Following the purchase, 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. In the last three months, insiders have purchased 118,300 shares of company stock worth $318,654. 17.60% of the stock is currently owned by company insiders.

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.