Barnwell Industries (NYSE:BRN) Director Acquires 10,478 Shares

Barnwell Industries, Inc. (NYSE:BRN) Director Joshua Horowitz purchased 10,478 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was purchased at an average price of $1.00 per share, for a total transaction of $10,478.00. Following the acquisition, the director owned 330,187 shares of the company’s stock, valued at approximately $330,187. This represents a 3.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Barnwell Industries Stock Performance

Shares of NYSE BRN traded up $0.02 during midday trading on Thursday, hitting $1.02. 88,705 shares of the stock traded hands, compared to its average volume of 342,739. The company has a market cap of $14.72 million, a PE ratio of -1.50 and a beta of -0.03. Barnwell Industries, Inc. has a one year low of $0.91 and a one year high of $1.40. The business has a 50 day moving average price of $1.00 and a two-hundred day moving average price of $1.06.

Hedge Funds Weigh In On Barnwell Industries

Several large investors have recently added to or reduced their stakes in BRN. DRW Securities LLC bought a new stake in Barnwell Industries during the 4th quarter worth approximately $37,000. Aspen Grove Capital LLC purchased a new stake in shares of Barnwell Industries in the fourth quarter worth approximately $29,000. Renaissance Technologies LLC lifted its holdings in shares of Barnwell Industries by 9.4% in the first quarter. Renaissance Technologies LLC now owns 323,713 shares of the company’s stock valued at $350,000 after purchasing an additional 27,726 shares in the last quarter. JCP Investment Management LLC bought a new position in shares of Barnwell Industries in the first quarter valued at approximately $442,000. Finally, BlackRock Inc. purchased a new position in shares of Barnwell Industries during the second quarter valued at approximately $69,000. Institutional investors own 40.71% of the company’s stock.

About Barnwell Industries

Barnwell Industries, Inc (NYSE: BRN) is an independent energy company headquartered in Houston, Texas. The company specializes in the acquisition, development and operation of onshore oil and natural gas properties. Its strategy centers on purchasing and managing producing assets that offer stable, cash?flow characteristics in mature U.S. resource plays.

Barnwell’s core activities include the identification and evaluation of undervalued or under-drilled leases, followed by the implementation of low-cost development programs to enhance production.