Barnwell Industries (NYSE:BRN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Barnwell Industries (NYSE:BRN) in a report released on Friday morning. The firm issued a hold rating on the stock.

Barnwell Industries Stock Up 3.8 %

Shares of NYSE BRN opened at $1.52 on Friday. Barnwell Industries has a twelve month low of $1.42 and a twelve month high of $3.20. The stock has a market cap of $15.28 million, a price-to-earnings ratio of -4.00 and a beta of 0.07. The company’s fifty day moving average is $1.78 and its 200-day moving average is $2.14.

Hedge Funds Weigh In On Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC lifted its holdings in Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,534 shares of the company’s stock after purchasing an additional 6,612 shares during the quarter. Renaissance Technologies LLC owned 3.55% of Barnwell Industries worth $836,000 as of its most recent SEC filing. 40.71% of the stock is owned by institutional investors and hedge funds.

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.