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

StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a report issued on Wednesday morning. The firm issued 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 Price Performance

BRN opened at $2.95 on Wednesday. Barnwell Industries has a 12 month low of $2.06 and a 12 month high of $2.99. The stock has a market cap of $29.67 million, a P/E ratio of -10.93 and a beta of 0.19. The stock’s 50 day moving average price is $2.45 and its 200 day moving average price is $2.46.

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

Insider Transactions at Barnwell Industries

In other Barnwell Industries news, major shareholder Ned L. Sherwood bought 71,050 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was acquired 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 directly owns 2,600,466 shares in the company, valued at approximately $6,943,244.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Ned L. Sherwood acquired 71,050 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was acquired at an average cost of $2.67 per share, for a total transaction of $189,703.50. Following the completion of the acquisition, the insider now owns 2,600,466 shares in the company, valued at $6,943,244.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ned L. Sherwood acquired 10,650 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were purchased at an average price of $2.78 per share, with a total value of $29,607.00. Following the completion of the acquisition, the insider now owns 2,617,827 shares of the company’s stock, valued at approximately $7,277,559.06. The disclosure for this purchase can be found here. Insiders purchased a total of 109,870 shares of company stock valued at $295,039 in the last three months. 17.60% of the stock is currently owned by corporate 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.