Barnwell Industries (NYSE:BRN) Coverage Initiated by Analysts at StockNews.com

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

Barnwell Industries Stock Down 3.2 %

Shares of Barnwell Industries stock opened at $1.49 on Friday. The company has a 50 day moving average price of $1.68 and a 200 day moving average price of $2.07. The firm has a market capitalization of $14.98 million, a P/E ratio of -3.92 and a beta of 0.07. Barnwell Industries has a 52 week low of $1.31 and a 52 week high of $3.20.

Institutional Trading of Barnwell Industries

An institutional investor recently raised its position in Barnwell Industries stock. Renaissance Technologies LLC increased its position in shares of Barnwell Industries, Inc. (NYSE:BRN) by 1.9% in the second quarter, according to its most recent Form 13F 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 3.55% of Barnwell Industries worth $836,000 as of its most recent SEC filing. 40.71% of the stock is 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.