Revenue Update on Enerplus Corp (USA)(NYSE:ERF)

Enerplus Corp (USA)(NYSE:ERF) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 5, 2016. Company reported revenue of $117.37M. Analysts estimated a revenue of $157.24M. Earnings per share were $-0.59. Analysts had estimated an EPS of $-0.10.

In a different note, On Jun 6, 2016, Macquarie said it Upgrades its rating on Enerplus Corp (USA). The shares have been rated ‘Outperform’ by the firm. On Jun 6, 2016, Raymond James said it Assumes its rating on Enerplus Corp (USA). The shares have been rated ‘Outperform’ by the firm.

Enerplus Corp (USA) (ERF) made into the market gainers list on Wednesdays trading session with the shares advancing 0.54% or 0.04 points. Due to strong positive momentum, the stock ended at $7.43, which is also near the day’s high of $7.46. The stock began the session at $7.38 and the volume stood at 10,93,722 shares. The 52-week high of the shares is $7.46 and the 52 week low is $1.84. The company has a current market capitalization of $1,783 M and it has 24,00,00,000 shares in outstanding.

Enerplus Corporation is a Canada-based energy producer. The Company’s 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 Company’s 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 Company’s 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.

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