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Stock impact report

Eric Nuttall's Top Picks: December 3, 2021 [Business News Network (BNN) (Canada)]

Enerplus Corporation (ERF) 
Last enerplus corporation earnings: 2/21 06:00 am Check Earnings Report
US:NYSE Investor Relations: investors.enerplus.com
Volume 90% Eric Nuttall, partner and senior portfolio manager, Ninepoint Partners FOCUS: Energy stocks MARKET OUTLOOK: The one-month selloff in oil has been violent, with fears of a potentially vaccine resistant Omicron combined with confusion around the significance of a strategic petroleum reserve release resulting in a US$17/bbl plunge. With the oil price implosion implying a 7M bbl/day collapse in demand for an entire quarter (equivalent to 50 per cent of the demand destruction from the global lockdown in April 2020) I believe the likely worst-case scenario from Omicron has been totally baked in allowing for a meaningful relief rally if positive news around vaccine efficacy comes out in the next few weeks. We remain in a multi-year bull market for oil and I would be aggressively using this pullback to add. Energy stocks are trading at 2.8x enterprise value to cash flow and a 26 per cent free cash flow yield at US$70 WTI, an oil price level I expect the market to retur Show less Read more
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