Enerplus Corporation (ERF) : Traders are bullish on Enerplus Corporation (ERF) as it has outperformed the S&P 500 by a wide margin of 0.84% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.25%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.71% in the last 1 week, and is up 3.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Enerplus Corporation (NYSE:ERF): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.18 and $6.08 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.59. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.49, notching a gain of 3.34% for the day. The total traded volume was 1,288,404 . The stock had closed at $6.28 on the previous day.
The stock has recorded a 20-day Moving Average of 4.45% and the 50-Day Moving Average is 5.81%. Enerplus Corporation is up 28.29% in the last 3-month period. Year-to-Date the stock performance stands at 94.22%.
Enerplus Corporation (ERF) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $13 and the lowest price target forecast is $4. The average forecast of all the analysts is $7.77 and the expected standard deviation is $3.42.
Enerplus Corporation is a Canada-based energy producer. The Companys capital program is focused on the development of its crude oil and natural gas core areas of operation, which includes its North Dakota and Montana crude oil assets in the Williston Basin, and its natural gas interests in northeast Pennsylvania. The Companys oil and natural gas property interests are located in western Canada in the provinces of Alberta, British Columbia and Saskatchewan, and in the United States, primarily in the states of Montana, North Dakota, Pennsylvania and West Virginia. The Companys properties consist of approximately 42% crude oil and natural gas liquids (NGLs) and 58% natural gas properties. The Company drilled around 14 wells at Brooks; seven injection wells and seven production wells at Medicine Hat and 27.2 net horizontal wells in the Fort Berthold region. It has around 71 net producing wells in the Marcellus. Enerplus USA is a subsidiary of the Company.