The Erin Energy Corp (ERN) Major Shareholder Kase Lukman Lawal Acquires 25,865 Shares

The Erin Energy Corp (ERN) Major Shareholder Kase Lukman Lawal Acquires 25,865 Shares

Erin Energy Corp (NYSE:ERN) major shareholder Kase Lukman Lawal acquired 25,865 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were purchased at an average cost of $1.63 per share, for a total transaction of $42,159.95. Following the acquisition, the insider now directly owns 2,954,438 shares in the company, valued at approximately $4,815,733.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kase Lukman Lawal also recently made the following trade(s):

Shares of Erin Energy Corp (ERN) traded down 5.17% during mid-day trading on Friday, hitting $2.75. The stock had a trading volume of 28,760 shares. The stock has a 50 day moving average of $2.87 and a 200-day moving average of $2.13. The stock’s market capitalization is $586.46 million. Erin Energy Corp has a 52 week low of $1.15 and a 52 week high of $4.10.

An institutional investor recently raised its position in Erin Energy Corp stock. Northern Trust Corp increased its stake in shares of Erin Energy Corp (NYSE:ERN) by 27.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,686 shares of the company’s stock after buying an additional 26,408 shares during the quarter. Northern Trust Corp owned about 0.06% of Erin Energy Corp worth $179,000 at the end of the most recent reporting period.

Erin Energy Corp 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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