Why These Energy Stocks are Gaining This Week

5. Barnwell Industries, Inc. (NYSE:BRN)

Share Price Gains Between Mar. 3 and Mar. 10: 8.89%

Barnwell Industries, Inc. (NYSE:BRN), together with its subsidiaries, acquires and develops crude oil and natural gas assets in Canada.

Shares of Barnwell Industries, Inc. (NYSE:BRN) have finally witnessed an uptick after closing at a 52-week low of $1.35 last week. The market seems to have responded positively after the company recently announced that it had entered into a non-binding letter of intent for the sale of its water well drilling subsidiary, Water Resources International. The transaction will bring in around $1.05 million for the company and allow it to ‘refocus on its core oil and gas exploration business’.