Shares of Enerplus Corporation (NYSE:ERF) traded today at $5.71, eclipsing its 52-week high. So far today approximately 698,000 shares have been exchanged, as compared to an average 30-day volume of 2.9 million shares.
Based on a current price of $5.64, Enerplus Corporation is currently 7.5% above its average consensus analyst price target of $5.22.
In the past 52 weeks, shares of Enerplus Corporation have traded between a low of $1.15 and a high of $5.71 and is now at $5.64, which is 390% above that low price.
Enerplus Corp produces and develops crude oil and natural gas assets in Canada and the United States. Majority of oil production is derived from the Williston and Waterfloods basins, with the Marcellus providing a significant portion of natural gas production. Enerplus acquires the right to use assets through royalties paid to government entities, land owners and mineral rights owners. Crude oil and natural gas are sold to customers in both countries where assets are held and can be sold either at the well or a fixed destination.
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