Eric Nuttall It appears that he would hang onto ERF for two reasons - the rising price of oil and gas and his view that CHRD should continue to perform well. He previously held CHRD but doesn't anymore, likely because he's about to become a signifcant shareholder through his stake in ERF which I assume his still owns given that it was one of his recent top picks. GLTA
COMMENT
Enerplus Corp(ERF-T)
02/04/2024
Never sell because a stock hits a 52-week high, but only based on risk/reward. ERF is being bought by a North Dakota producer, Chord Energy Management and have done a great job. They struggled after selling their Canadian assets and held onto their North Dakota Marcellus assets.
Oil / Gas
Eric Nuttall
$26.860
Unknown
BUY
Chord Energy Corp(CHRD-Q)
02/04/2024
ERF is being bought by a North Dakota producer, Chord Energy Management. He's bullish oil. Using an $80 per barrel baseline, CHRD next year (after they absorb Enerplus) should trade at 3.4x cash flow and 14% free cash flow yield (vs. most names at 7-8%). At a 5x multiple next year, CHRD would trade at $253 price target or 42% upside.
Energy
Eric Nuttall
$178.730
No