Enerplus Corporation (ERF) Shares are Up 5.25%

Enerplus Corporation (ERF) has been under a strong bear grip, hence the stock is down -8.85% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 5.08% in the past 1 week. The stock has risen by 5.25% in the past week indicating that the buyers are active at lower levels, but the stock is down -9.34% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 0.95% and the 50-Day Moving Average is 2.39%.The 200 Day SMA reached 31.02%

Enerplus

Enerplus Corporation (NYSE:ERF): After opening at $6.39, the stock dipped to an intraday low of $6.29 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $6.59 and the buying power remained strong till the end. The stock closed at $6.41 for the day, a gain of 2.07% for the day session. The total traded volume was 1,208,645. The stocks close on the previous trading day was $6.41.

Enerplus Corporation (ERF) stock is expected to deviate a maximum of $3.63 from the average target price of $7.38 for the short term period. 5 Street Experts have initiated coverage on the stock with the most promising target being $13 and the most muted being $4.

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.

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