The Daily Chase: Suncor earnings and a big oil merger deal [BNN Bloomberg (Canada)]
Enerplus Corporation (ERF)
Last enerplus corporation earnings: 2/21 06:00 am
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Source: BNN Bloomberg
up a bid, Calgary-based oil company Enerplus Corp. announced it has struck a deal to sell itself to U.S. shale oil driller Chord Energy Group for US$3.7 billion in cash and stock, and the assumption of billions of dollars of debt. Enerplus had previously been rumoured to be a target of Oklahoma-based Devon Energy, but Chord has emerged as the winner. Shares in both companies were up in premarket trading, and that makes sense according to Stifel analyst Cody Kwong, who calls it an “attractive valuation” for Enerplus shareholders and says the combined firm is “looking attractive at first blush.” While Enerplus has a lot of assets, the main appeal for Chord is to get its hands on Enerplus' assets in the Bakken shale oil formation, which is proving to be a hot commodity for companies looking to boost production in the energy sector. It's the second big oil deal in as many weeks in the area, after Diamondback Energy agreed to buy fellow Texas driller Endeavor Energy for $26B last week. S
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ERF
News
- Enerplus Co. (NYSE: ERF) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- CANADA STOCKS-Toronto market subdued as broad gains countered by resource losses [Yahoo! Finance]Yahoo! Finance
- Enerplus Co. (NYSE: ERF) was downgraded by analysts at Royal Bank of Canada from an "outperform" rating to a "sector perform" rating. They now have a $22.00 price target on the stock, up previously from $21.00.MarketBeat
- Enerplus to Report First Quarter 2024 Results May 8PR Web
- Enerplus Announces Filing of Management Information Circular for Special Meeting of Shareholders [Yahoo! Finance]Yahoo! Finance
ERF
Earnings
- 2/21/24 - Beat
ERF
Sec Filings
- 4/26/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/9/24 - Form 6-K
- ERF's page on the SEC website