In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), US Energy Corp. (NASDAQ:USEG) reported that Mt. Emmons Mining Co. has picked up 729,006 of common stock as of 2017-02-07.
The acquisition brings the aggregate amount owned by Mt. Emmons Mining Co. to a total of 729,006 representing a 10.6% stake in the company.
For those not familiar with the company, U.S. Energy Corp. (U.S. Energy) is an independent energy company focused on the acquisition and development of oil and gas producing properties in the continental United States. The Company’s business activities are focused on South Texas and the Williston Basin in North Dakota. The Company operates through Oil and Gas segment. The Company participates in oil and gas projects primarily as a non-operating working interest owner through exploration and development agreements with various oil and gas exploration and production companies. The Company is also pursuing acquisitions of exploration, development and production-stage oil and gas properties or companies. The Company holds a geographically and geologically diverse portfolio of oil-weighted prospects in varying-stages of exploration and development.
A glance at US Energy Corp (NASDAQ:USEG)’s key stats reveals a current market capitalization of 6.03 million based on 6.13 million shares outstanding and a price at last close of $1.01 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-09-02, Danni picked up 200 at a purchase price of $4.09. This brings their total holding to 10,000 as of the date of the filing.
On the sell side, the most recent transaction saw Brown unload 25,000 shares at a sale price of $4.88. This brings their total holding to 441,513.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on US Energy Corp (NASDAQ:USEG) as things move forward to see if its progress aligns with these transactions.
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