Shares of Barnwell Industries, Inc. (NYSEAMERICAN:BRN – Get Rating) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.00 and traded as high as $3.12. Barnwell Industries shares last traded at $3.05, with a volume of 43,560 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, TheStreet raised shares of Barnwell Industries from a “c+” rating to a “b-” rating in a research report on Tuesday, August 30th.
Barnwell Industries Trading Down 7.6 %
The firm has a market cap of $27.98 million, a PE ratio of 3.90 and a beta of 0.60.
Barnwell Industries Announces Dividend
The company also recently declared a — dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Monday, August 22nd. Barnwell Industries’s dividend payout ratio is presently 8.33%.
Insiders Place Their Bets
In other news, major shareholder Ned L. Sherwood acquired 61,366 shares of Barnwell Industries stock in a transaction that occurred on Monday, August 15th. The stock was bought at an average price of $2.91 per share, for a total transaction of $178,575.06. Following the completion of the transaction, the insider now owns 1,643,932 shares in the company, valued at $4,783,842.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have purchased 75,590 shares of company stock valued at $220,580. 13.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in shares of Barnwell Industries during the fourth quarter valued at about $48,000. Dimensional Fund Advisors LP acquired a new stake in shares of Barnwell Industries during the first quarter worth $78,000. Finally, Renaissance Technologies LLC lifted its position in Barnwell Industries by 15.0% during the first quarter. Renaissance Technologies LLC now owns 637,622 shares of the energy company’s stock valued at $1,639,000 after purchasing an additional 83,286 shares during the period. Institutional investors own 8.56% of the company’s stock.
Barnwell Industries Company Profile
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 and natural gas assets in the province of Alberta; and invests in land interests in Hawaii.
- Get a free copy of the StockNews.com research report on Barnwell Industries (BRN)
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