Enerplus Corporation (NYSE:ERF) has risen sharply, recording gains of 5.37% in the past 4 weeks. However, the stock has corrected -4.56% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.7% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have dropped -22.47% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $8.35 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $6.00 and the 200 Day Moving Average price is recorded at $4.30.
The stock has recorded a 20-day Moving Average of 0.53% and the 50-Day Moving Average is 9.74%.
Enerplus Corporation (NYSE:ERF): stock turned positive on Friday. Though the stock opened at $6.38, the bulls momentum made the stock top out at $6.38 level for the day. The stock recorded a low of $6.12 and closed the trading day at $6.28, in the green by 0.16%. The total traded volume for the day was 1,218,241. The stock had closed at $6.27 in the previous days trading.
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.