Ned L. Sherwood Acquires 10,650 Shares of Barnwell Industries, Inc. (NYSE:BRN) Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood purchased 10,650 shares of Barnwell Industries stock in a transaction on Wednesday, April 17th. The stock was bought at an average price of $2.78 per share, for a total transaction of $29,607.00. Following the transaction, the insider now directly owns 2,617,827 shares in the company, valued at approximately $7,277,559.06. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Barnwell Industries Price Performance

Shares of Barnwell Industries stock opened at $2.79 on Friday. Barnwell Industries, Inc. has a one year low of $2.06 and a one year high of $2.90. The stock’s 50-day moving average is $2.38 and its 200 day moving average is $2.44. The firm 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 announced its quarterly earnings results on Monday, February 12th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $6.16 million during the quarter. Barnwell Industries had a negative return on equity of 14.70% and a negative net margin of 11.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com assumed coverage on Barnwell Industries in a research report on Tuesday. They set a “hold” rating on the stock. TheStreet lowered Barnwell Industries from a “c” rating to a “d+” rating in a research report on Thursday, March 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Barnwell Industries by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 57,848 shares of the company’s stock worth $127,000 after acquiring an additional 4,144 shares in the last quarter. Two Sigma Investments LP bought a new position in Barnwell Industries in the third quarter worth approximately $40,000. Acadian Asset Management LLC raised its stake in shares of Barnwell Industries by 145.1% in the first quarter. Acadian Asset Management LLC now owns 40,745 shares of the company’s stock worth $104,000 after purchasing an additional 24,118 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Barnwell Industries in the first quarter worth approximately $75,000. Finally, Renaissance Technologies LLC raised its stake in shares of Barnwell Industries by 15.0% in the first quarter. Renaissance Technologies LLC now owns 637,622 shares of the company’s stock worth $1,639,000 after purchasing an additional 83,286 shares during the last quarter. Institutional investors 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.