StockNews.com started coverage on shares of Barnwell Industries (NYSE:BRN – Free Report) in a research note released on Thursday morning. The firm issued a hold rating on the stock.
Separately, TheStreet lowered shares of Barnwell Industries from a b- rating to a c rating in a research note on Monday, September 11th.
Read Our Latest Research Report on BRN
Barnwell Industries Stock Performance
Shares of NYSE:BRN opened at $2.61 on Thursday. The company has a fifty day simple moving average of $2.58 and a 200 day simple moving average of $2.59. The firm has a market cap of $26.07 million, a PE ratio of -29.00 and a beta of 0.36. Barnwell Industries has a 12-month low of $1.89 and a 12-month high of $3.20.
Insider Buying and Selling
In other Barnwell Industries news, major shareholder Ned L. Sherwood bought 24,198 shares of the stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $2.70 per share, for a total transaction of $65,334.60. Following the completion of the purchase, the insider now directly owns 2,354,877 shares in the company, valued at $6,358,167.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Barnwell Industries news, major shareholder Ned L. Sherwood bought 24,198 shares of the stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $2.70 per share, for a total transaction of $65,334.60. Following the completion of the purchase, the insider now directly owns 2,354,877 shares in the company, valued at $6,358,167.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ned L. Sherwood bought 21,151 shares of the stock in a transaction on Friday, September 8th. The shares were acquired at an average price of $2.70 per share, with a total value of $57,107.70. Following the purchase, the insider now owns 2,395,647 shares of the company’s stock, valued at $6,468,246.90. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 194,960 shares of company stock worth $509,411. Insiders own 16.30% of the company’s stock.
Institutional Trading of Barnwell Industries
Several institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP acquired a new position in shares of Barnwell Industries during the third quarter valued at $40,000. Dimensional Fund Advisors LP acquired a new position in shares of Barnwell Industries during the first quarter valued at $78,000. Susquehanna International Group LLP acquired a new position in shares of Barnwell Industries during the first quarter valued at $75,000. EA Series Trust acquired a new position in shares of Barnwell Industries during the second quarter valued at $88,000. Finally, Acadian Asset Management LLC boosted 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 valued at $104,000 after acquiring an additional 24,118 shares during the period. Institutional investors own 9.38% of the company’s stock.
About Barnwell Industries
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Barnwell Industries, Inc acquires, develops, produces, and sells oil and natural gas in Canada. It operates through three segments: Oil and Natural Gas, Land Investment, and Contract Drilling. The company acquires and develops crude oil and natural gas assets in the province of Alberta; and invests in land interests in Hawaii.
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