Enerplus Target of Unusually Large Options Trading (ERF)
Enerplus Corp (NYSE:ERF) (TSE:ERF) saw unusually large options trading on Monday. Investors bought 733 put options on the stock. This represents an increase of 762% compared to the average daily volume of 85 put options.
ERF has been the subject of several research analyst reports. Zacks Investment Research upgraded Enerplus from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Monday, November 13th. Scotiabank restated a “buy” rating and set a $16.00 price target on shares of Enerplus in a research note on Tuesday, October 10th. Canaccord Genuity restated a “buy” rating and set a $16.00 price target on shares of Enerplus in a research note on Thursday, November 9th. CIBC initiated coverage on Enerplus in a research note on Wednesday, October 18th. They set a “sector outperform” rating for the company. Finally, ValuEngine upgraded Enerplus from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $14.20.
Shares of Enerplus (ERF) opened at $9.01 on Thursday. The company has a market capitalization of $2,072.62, a PE ratio of 13.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.04. Enerplus has a 12 month low of $6.52 and a 12 month high of $10.20.
Hedge funds and other institutional investors have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Enerplus in the third quarter worth about $109,000. Lbmc Investment Advisors LLC purchased a new stake in shares of Enerplus in the third quarter worth about $148,000. ETRADE Capital Management LLC boosted its position in shares of Enerplus by 5.8% in the second quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock worth $122,000 after buying an additional 822 shares during the period. Pacad Investment Ltd. boosted its position in shares of Enerplus by 69.0% in the second quarter. Pacad Investment Ltd. now owns 20,108 shares of the oil and natural gas company’s stock worth $163,000 after buying an additional 8,208 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Enerplus by 15.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,982 shares of the oil and natural gas company’s stock worth $178,000 after buying an additional 2,890 shares during the period. 49.72% of the stock is owned by institutional investors.
Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).
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