Erin Energy Corp (ERN) Sees Large Drop in Short Interest
Erin Energy Corp (NYSEAMERICAN:ERN) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 646,099 shares, a drop of 3.5% from the November 15th total of 669,665 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 15,688 shares, the short-interest ratio is currently 41.2 days.
Erin Energy (NYSEAMERICAN:ERN) opened at $2.55 on Monday. Erin Energy has a 12-month low of $1.15 and a 12-month high of $4.10.
Separately, ValuEngine lowered shares of Erin Energy from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd.
In other Erin Energy news, major shareholder Kase Lukman Lawal acquired 33,247 shares of Erin Energy stock in a transaction dated Thursday, October 12th. The stock was bought at an average price of $2.98 per share, for a total transaction of $99,076.06. Following the transaction, the insider now owns 3,328,092 shares in the company, valued at approximately $9,917,714.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have bought 110,305 shares of company stock valued at $302,046.
Several large investors have recently bought and sold shares of ERN. Northern Trust Corp boosted its position in shares of Erin Energy by 27.1% during the 2nd quarter. Northern Trust Corp now owns 123,686 shares of the company’s stock valued at $179,000 after purchasing an additional 26,408 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Erin Energy by 106.6% during the second quarter. Goldman Sachs Group Inc. now owns 134,389 shares of the company’s stock valued at $195,000 after buying an additional 69,354 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Erin Energy during the third quarter valued at about $197,000.
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Erin Energy Company Profile
Erin Energy Corporation is an independent oil and gas exploration and production company. The Company is focused on energy resources in Africa. It is focused on exploration for and production of hydrocarbons where commercial reserves have been found and developed. As of December 31, 2016, the Company’s asset portfolio consisted of seven licenses across four countries covering an area of approximately five million acres (approximately 19,000 square kilometers).
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