Barnwell Industries CEO buys $24,349 in company stock
Craig Douglas Hopkins, the President and CEO of Barnwell Industries Inc. (NYSE:BRN), has recently purchased additional shares in the company, according to a new filing with the Securities and Exchange Commission. Hopkins acquired a total of 10,000 shares through two separate transactions, with a combined value of $24,349.
The first transaction, dated August 28, 2024, involved the purchase of 5,000 shares at a price of $2.3699 per share. The following day, Hopkins bought another 5,000 shares, this time at a slightly higher price of $2.5 per share. These transactions increased his direct ownership in Barnwell Industries to 75,000 common shares.
The purchase of shares by a company’s CEO can be seen as a sign of confidence in the future of the business. Investors often look to insider buying and selling as an indicator of a stock’s potential direction. The prices paid for the shares ranged from $2.3699 to $2.5, representing the CEO’s investment at different price points within that range.
Barnwell Industries, headquartered in Honolulu, Hawaii, operates in the crude petroleum and sector. The company’s business activities are focused on the acquisition, development, production, and sale of oil and gas and the drilling and development of water wells.
As the CEO’s recent stock purchases are a matter of public record, investors and analysts may take an interest in how this aligns with the company’s current performance and future outlook. The transactions have been duly reported in compliance with SEC regulations and are available for public scrutiny.
InvestingPro Insights
In light of the CEO’s recent share purchases, a closer look at Barnwell Industries Inc. (NYSE:BRN) through InvestingPro metrics and tips provides additional context for investors considering the company’s stock.
InvestingPro data reveals that Barnwell Industries has experienced a revenue contraction, with a decrease of 9.36% in the last twelve months as of Q3 2024, and a quarterly revenue dip of 2.61%. Despite this, the company has managed to maintain a gross profit margin of 38.07% over the same period. However, the operating income paints a different picture, with an adjusted operating loss of $2.12M, indicating challenges in managing operational expenses relative to revenues.
From an investment standpoint, one of the InvestingPro Tips notes that Barnwell Industries operates with a moderate level of debt, which could provide some financial flexibility. Additionally, the company has liquid assets that exceed its short-term obligations, suggesting a stable short-term financial position. This information, coupled with the CEO’s share acquisition, might suggest a belief in the company’s ability to navigate its current financial landscape.
InvestingPro also provides further insights, with additional tips available for those interested in a deeper analysis of Barnwell Industries. For instance, the platform lists a total of 5 InvestingPro Tips for BRN, which can help investors make more informed decisions by considering various financial and operational factors.
Investors may also note the dividend yield of 2.45%, which could be attractive for those looking for income-generating investments. The last dividend was issued on August 23, 2023, which might be a point of interest for dividend-focused investors. The recent price total return data shows some volatility, with a 5.39% increase over one week, but a decline of 14.51% over the past three months, highlighting the importance of monitoring short-term market movements.
These insights from InvestingPro offer a multi-faceted view of Barnwell Industries’ financial health and market performance, which could be valuable to investors following the CEO’s increased stake in the company.
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