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ERN (ERN) has 1 split in our ERN split history database. The split for ERN took place on April 23, 2015. This was a 1 for 6 reverse split, meaning for each 6 shares of ERN owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 166.666666666667 share position following the split.
When a company such as ERN conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the ERN split history from start to finish, an original position size of 1000 shares would have turned into 166.666666666667 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into ERN shares, starting with a $10,000 purchase of ERN, presented on a split-history-adjusted basis factoring in the complete ERN split history.
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||-42.01%|
|Erin Energy is an independent oil and gas exploration and production company. Co. acquires and develops potential exploration and production assets in Africa, and explores and develops those assets through partnerships with national oil companies, indigenous local partners and other independent oil companies. As of Dec 31 2017, Co.'s asset portfolio consisted of five licenses across Nigeria, The Gambia and Ghana. Co. owns producing properties offshore Nigeria and conduct exploration activities as an operator offshore Nigeria and Ghana, and as a non-operator offshore The Gambia. As of Dec 31 2017, Co.'s proved reserves was 7.1 million barrels of oil. According to our ERN split history records, ERN has had 1 split.|
|ERN Split History Table|
|04/23/2015||1 for 6|
|Energy Stock Splits|
|ERN is categorized under the Energy sector; below are some other companies in the same sector that also have a history of stock splits:|