The Senior Vice-President & Chief Operating Officer of Enerplus (NYSE: ERF) is Buying Shares

By Carrie Williams

Today, the Senior Vice-President & Chief Operating Officer of Enerplus (ERFResearch Report), Wade Don Hutchings, bought shares of ERF for $26.12K.

Following this transaction Wade Don Hutchings’ holding in the company was increased by 7% to a total of $396K. In addition to Wade Don Hutchings, 2 other ERF executives reported Buy trades in the last month.

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The company has a one-year high of $7.35 and a one-year low of $1.15.

Based on 8 analyst ratings, the analyst consensus is Strong Buy with an average price target of $3.56, reflecting a -42.7% downside. Six different firms, including RBC Capital and Stifel Nicolaus, currently also have a Buy rating on the stock.

The insider sentiment on Enerplus has been positive according to 79 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Enerplus Corp. engages in the exploration and production of crude oil and natural gas. It conducts operations in Willston Basin, Marcellus Shale, and Canadian Waterfloods. The company was founded in 1986 and is headquartered in Calgary, Canada.