Barnwell Industries, Inc. (NYSE:BRN) Major Shareholder Buys $29,607.00 in Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood acquired 10,650 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was bought at an average cost of $2.78 per share, for a total transaction of $29,607.00. Following the completion of the transaction, the insider now directly owns 2,617,827 shares of the company’s stock, valued at $7,277,559.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Barnwell Industries Price Performance

Barnwell Industries stock traded up $0.06 during midday trading on Wednesday, hitting $2.79. The company’s stock had a trading volume of 35,053 shares, compared to its average volume of 15,901. Barnwell Industries, Inc. has a 1-year low of $2.06 and a 1-year high of $2.90. The company has a 50-day moving average price of $2.36 and a two-hundred day moving average price of $2.44. The company has a market cap of $28.07 million, a price-to-earnings ratio of -10.33 and a beta of 0.19.

Barnwell Industries (NYSE:BRN) last issued its quarterly earnings data on Monday, February 12th. The company reported ($0.07) earnings per share 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.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BRN. StockNews.com began coverage on shares of Barnwell Industries in a research report on Tuesday. They issued a “hold” rating on the stock. TheStreet lowered shares of Barnwell Industries from a “c” rating to a “d+” rating in a research report on Thursday, March 14th.

Institutional Trading of Barnwell Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Two Sigma Investments LP acquired a new stake in Barnwell Industries in the 3rd quarter worth about $40,000. Dimensional Fund Advisors LP acquired a new position in shares of Barnwell Industries in the 1st quarter valued at approximately $78,000. Susquehanna International Group LLP acquired a new position in shares of Barnwell Industries in the 1st quarter valued at approximately $75,000. Acadian Asset Management LLC raised its position in shares of Barnwell Industries by 145.1% in the 1st quarter. Acadian Asset Management LLC now owns 40,745 shares of the company’s stock valued at $104,000 after buying an additional 24,118 shares in the last quarter. Finally, Stilwell Value LLC acquired a new position in shares of Barnwell Industries in the 1st quarter valued at approximately $220,000. Institutional investors and hedge funds own 40.71% of the company’s stock.

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.