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

StockNews.com assumed coverage on shares of Barnwell Industries (NYSE:BRN) in a research report released on Sunday. The brokerage issued a hold rating on the stock.

Barnwell Industries Price Performance

Shares of Barnwell Industries stock opened at $2.20 on Friday. The stock’s fifty day moving average is $2.30 and its two-hundred day moving average is $2.48. The company has a market capitalization of $22.06 million, a PE ratio of -6.67 and a beta of 0.09. Barnwell Industries has a 52 week low of $2.06 and a 52 week high of $3.20.

Barnwell Industries (NYSE:BRN) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.12) earnings per share (EPS) for the quarter. Barnwell Industries had a negative return on equity of 22.12% and a negative net margin of 15.55%. The firm had revenue of $5.53 million for the quarter.

Hedge Funds Weigh In On Barnwell Industries

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

Barnwell Industries Company Profile

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.