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 stock in a transaction on 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 completion of the transaction, the insider now directly owns 2,600,466 shares of the company’s stock, valued at $6,943,244.22. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Barnwell Industries Price Performance

Shares of Barnwell Industries stock opened at $2.83 on Friday. Barnwell Industries, Inc. has a 1 year low of $2.06 and a 1 year high of $2.95. The business has a 50-day moving average of $2.39 and a two-hundred day moving average of $2.45. The company has a market capitalization of $28.47 million, a P/E ratio of -10.48 and a beta of 0.19.

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

Analysts Set New Price Targets

A number of research firms have commented on BRN. StockNews.com assumed coverage on Barnwell Industries in a research note on Tuesday. They issued a “hold” rating on the stock. TheStreet lowered Barnwell Industries from a “c” rating to a “d+” rating in a research note on Thursday, March 14th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in shares of 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 buying an additional 83,286 shares in the last quarter. Stilwell Value LLC bought a new position in shares of Barnwell Industries during the first quarter worth about $220,000. Dimensional Fund Advisors LP grew its holdings in shares of 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 buying an additional 4,591 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of 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 buying an additional 24,118 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Barnwell Industries during the first quarter worth about $75,000. 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.