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

Equities researchers at StockNews.com began coverage on shares of Barnwell Industries (NYSE:BRN) in a report released on Monday. The brokerage set a “hold” rating on the stock.

Barnwell Industries Stock Performance

BRN opened at $2.33 on Monday. The stock has a market capitalization of $23.37 million, a PE ratio of -7.06 and a beta of 0.15. Barnwell Industries has a 1 year low of $2.06 and a 1 year high of $3.20. The company’s 50 day simple moving average is $2.48 and its 200 day simple moving average is $2.49.

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

Insider Activity

In other news, major shareholder Ned L. Sherwood purchased 18,034 shares of Barnwell Industries stock in a transaction dated Monday, May 20th. The stock was bought at an average price of $2.81 per share, with a total value of $50,675.54. Following the completion of the acquisition, the insider now owns 2,735,117 shares in the company, valued at approximately $7,685,678.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Ned L. Sherwood acquired 18,034 shares of Barnwell Industries stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average price of $2.81 per share, with a total value of $50,675.54. Following the completion of the acquisition, the insider now directly owns 2,735,117 shares of the company’s stock, valued at approximately $7,685,678.77. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ned L. Sherwood purchased 24,011 shares of the company’s stock in a transaction on Friday, May 31st. The stock was acquired at an average price of $2.89 per share, for a total transaction of $69,391.79. Following the completion of the transaction, the insider now owns 2,767,995 shares of the company’s stock, valued at approximately $7,999,505.55. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 54,681 shares of company stock valued at $155,509. 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.