Reading BRN? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track BRN free→Reading BRN? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track BRN free→AMEXEnergyOil & Gas E&pSnapshot 2026-06-15
Recent financial performance sits well below its industry cohort — worth keeping an eye on, though it has not freshly broken.
Recent financial performance is weak. Earnings quality is not assessable since the company is unprofitable. Management's recent track record has been unsteady. Risk is high, and the sector backdrop is a headwind. Peer multiples imply a price about 44% above where it trades (it looks cheap on this basis); the read is cheap, value-trap risk. This pattern occurs because it trades below peer multiples, but recent financials are weak. The read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 2 valuation methods, at three horizons. Current price $1.05. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $1.05 BRN trades at 1× p/s, below its 2× p/s peer median. Our $1.87 fair value sits above the price; low confidence. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The price implies about 44% below a flat-multiple fair value, below our forecast of about -19%. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Energy names rated weak grew net income 60% of the time over the next year (vs 56% for the rest of the cohort, n=979).
Over the trailing year it converted 0.58x of net income into operating cash flow.
Not enough signal yet.
Not enough signal to read sensitivity to the US dollar, long-term interest rates, the broad stock market, real (inflation-adjusted) rates, Fed net liquidity.
11 material management or governance events in the past 24 months, led by executive changes. Historically, Energy names rated volatile grew net income 45% of the time over the next year (vs 48% for the rest of the cohort, n=252).
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
via XLE
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$220.
How much price usually moves either way.
On a bad day, this stock has moved -$629.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $5,293.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-15
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: A return to revenue growth would signal a shift in the energy sector. This could improve Barnwell's outlook.
Confirms:Revenue growth picks back up above 2% year over year.
Disproves:Revenue growth remains below 2% year over year.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for BRN yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Looks cheaper than most peers in the same business.
Self-history needs ~20 months of data.
Trailing four: 2025-Q2, 2025-Q3, 2026-Q1, 2026-Q2
A side-by-side read on sector standing, valuation, and risk versus Oil & Gas Exploration & Production.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
BRN Barnwell Industries Inc | Below typical Show detailsSector percentile: 30 of 100 | inexpensive | high |
COP ConocoPhillips | Above typical Show detailsSector percentile: 91 of 100 | expensive | moderate |
EOG EOG Resources | Above typical Show detailsSector percentile: 95 of 100 | full | moderate |
OXY Occidental Petroleum | Above typical Show detailsSector percentile: 83 of 100 | expensive | moderate |
FANG Diamondback Energy | Typical Show detailsSector percentile: 55 of 100 | expensive | moderate |
Not investment advice. As of 2026-06-15.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-15.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Focus on enhancing operating income through cost management and efficiency improvements.
Stated in 3 of last 3 quarters. Operating income improved from $52,000 in 2025-Q3 to $93,000 in 2026-Q2, showing a positive trajectory in cost management and efficiency improvements.
“Operating income improved to $93,000.”
“Operating income was $68,000.”
“Operating income was $52,000.”
Management aims to reduce net income losses through strategic initiatives.
Stated in 3 of last 3 quarters. Net income loss reduced from $2,429,000 in 2025-Q4 to $1,150,000 in 2026-Q2, indicating progress in addressing financial losses through strategic initiatives.
Management is focused on increasing revenue through market expansion and product offerings.
Stated in 3 of last 3 quarters. Revenue decreased from $3,002,000 in 2025-Q4 to $2,535,000 in 2026-Q2, showing limited progress in revenue growth despite management's focus on market expansion and product offerings.
“Revenue decreased to $2,535,000.”
“Revenue was $2,746,000.”
Why it matters: Key economic reports can impact energy demand and pricing. This affects Barnwell's financial health.
Confirms one read:Positive trends in the Advance Monthly Retail Trade Report on June 17.
Confirms the other:Negative trends in the Advance Monthly Retail Trade Report on June 17.
Entry into a Material Definitive Agreement On February 25, 2026, Barnwell Industries, Inc. (the “Company”) entered into a Sales Agreement (the “Sales Agreement”) with Roth Capital Partners, LLC (the “Agent”), under which the Company may, from time to time, sell shares of the Company’s common stock having an aggregate offering price of up to $50,000,000 in “at the market” offerings through or to the Agent, as sales agent. Due to the offering limitations applicable to the Company under General…
Results of Operations and Financial Condition On February 23, 2026, Barnwell Industries, Inc. issued a press release announcing its financial results for its fiscal quarter ended December 31, 2025. A copy of such press release is furnished as Exhibit 99.1 to this Current Report.
Entry into a Material Definitive Agreement As of January 30, 2026, the Board of Directors (the “Board”) of Barnwell Industries, Inc., a Delaware corporation (the “Company”), authorized and declared a dividend distribution of one right (each, a “Right”) for each outstanding share of common stock, par value $0.50 per share, of the Company (the “Common Stock”). The dividend is payable to holders of record as of the close of business on February 13, 2026 (the “Record Date”). Each Right entitles t…
Material Modification to Rights of Security Holders See the description set out under “
“Net income loss reduced to $1,150,000.”
“Net income loss was $1,426,000.”
“Net income loss was $2,429,000.”
“Revenue was $3,002,000.”