Barnwell Industries, Inc. (NYSE:BRN) Major Shareholder Ned L. Sherwood Acquires 5,011 Shares

Barnwell Industries, Inc. (NYSE:BRN) major shareholder Ned L. Sherwood bought 5,011 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was acquired at an average cost of $2.80 per share, for a total transaction of $14,030.80. Following the completion of the acquisition, the insider now directly owns 2,667,277 shares in the company, valued at $7,468,375.60. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Barnwell Industries Stock Performance

Shares of BRN opened at $2.80 on Wednesday. The stock has a market capitalization of $28.17 million, a P/E ratio of -10.37 and a beta of 0.19. The company’s fifty day moving average is $2.41 and its two-hundred day moving average is $2.45. Barnwell Industries, Inc. has a 1 year low of $2.06 and a 1 year high of $2.95.

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

Wall Street Analyst Weigh In

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

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.