Barnwell Industries (NYSE:BRN) Now Covered by Analysts at StockNews.com

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

Barnwell Industries Trading Up 0.5 %

NYSE BRN opened at $2.05 on Thursday. The business’s 50 day moving average is $2.26 and its two-hundred day moving average is $2.46. Barnwell Industries has a 12-month low of $2.00 and a 12-month high of $3.20. The stock has a market capitalization of $20.56 million, a price-to-earnings ratio of -6.21 and a beta of 0.10.

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

Institutional Investors Weigh In On Barnwell Industries

A hedge fund recently raised its stake in Barnwell Industries stock. Renaissance Technologies LLC grew its holdings in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter. 40.71% of the stock is owned by 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.