Barnwell Industries, Inc. (NYSE:BRN) Major Shareholder Ned L. Sherwood Purchases 71,050 Shares of Stock

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood purchased 71,050 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average price of $2.67 per share, with a total value of $189,703.50. Following the completion of the acquisition, the insider now directly owns 2,600,466 shares in the company, valued at $6,943,244.22. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Barnwell Industries Trading Up 2.2 %

Shares of NYSE BRN opened at $2.79 on Thursday. Barnwell Industries, Inc. has a 12 month low of $2.06 and a 12 month high of $2.90. The firm has a market capitalization of $28.06 million, a PE ratio of -10.33 and a beta of 0.19. The firm has a fifty day simple moving average of $2.37 and a two-hundred day simple moving average of $2.44.

Barnwell Industries (NYSE:BRN) last issued its quarterly earnings data on Monday, February 12th. The company reported ($0.07) EPS for the quarter. Barnwell Industries had a negative return on equity of 14.70% and a negative net margin of 11.35%. The company had revenue of $6.16 million during the quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BRN shares. StockNews.com started coverage on shares of Barnwell Industries in a report on Tuesday. They set a “hold” rating for the company. TheStreet lowered shares of Barnwell Industries from a “c” rating to a “d+” rating in a report on Thursday, March 14th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP bought a new position in Barnwell Industries in the 3rd quarter worth $40,000. Susquehanna International Group LLP bought a new position in shares of Barnwell Industries in the 1st quarter worth about $75,000. Dimensional Fund Advisors LP bought a new position in shares of Barnwell Industries in the 1st quarter worth about $78,000. Acadian Asset Management LLC increased its stake 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 worth $104,000 after acquiring an additional 24,118 shares in the last quarter. Finally, Stilwell Value LLC bought a new position in shares of Barnwell Industries in the 1st quarter worth about $220,000. 40.71% of the stock is currently owned by institutional investors.

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.