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Opinions Eric Nuttall
Enerplus CorpERF.TOTOP PICKOct 27, 2023
Eric NuttallOwned
$23.69
Stock price when the opinion was issued
$26.78
As of Jun 03, 2024. Market Open.
oilgas
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BUY
Owns ~5 million shares in company (~5% of shares).
Oil assets very profitable.
Management team very good.
Expecting ~60% of free cash flow being returned to shareholders.
Current share price under-valued.
Eric NuttallOwned
oilgas
PAST TOP PICK
(A Top Pick Mar 04/22, Up 26%)
Pure USA Bakken & Marcellus play.
12-15 years of drilling inventory.
Trading at 2.2x times cash flow (fair value = 5x).
Expecting meaningful appreciation of shares.
Eric NuttallOwned
oilgas
BUY
Has 9.5% weight in portfolio.
Massive out performer last year.
Very strong company that has been returning capital to shareholders.
Pledged 60% of free cash flow to shareholders.
Share price should double from here.
Eric NuttallOwned
oilgas
PAST TOP PICK
(A Top Pick Mar 31/22, Up 47%) Very strong energy fundamentals.
Believes further room for growth in energy.
Company stock still cheap.
Will continue to hold.
Excellent financial performance that expects to continue.
Jason MannOwned
oilgas
BUY
Very good company paying down debt.
Expecting a double in the share price.
Trading at ~2x cash flow.
Eric NuttallOwned
oilgas
PAST TOP PICK
(A Top Pick Sep 24/21, Up 125%) Strong company that will continue to hold.
Will pay down debt to zero by end of the year.
Expecting to return 60% of free cash flow going forward (~18 of shares next year).
9% weight in portfolio.
Expecting a 5x multiple on share price or $40 share price.
Eric NuttallOwned
oilgas
TOP PICK
Board recently committed to at least 60% of free cash flow to share buybacks & dividends this year and 2023.
Looking into a significant issuer bid to buyback over 10% of their stock.
Currently trading at ~1.6x cash flow and 39% free cash flow yield.
Expecting company to debt free next year.
Looking for a 5x multiple on current share price $26.
Eric NuttallOwned
oilgas
TOP PICK
Management team committed to returning capital back to shareholders.
Package of conventional assets on the market which should fetch high price.
35% free cash flow yield, trading a 1.8x cash flow with long reserve life in the USA.
Company should be debt free this time next year.
Expecting company shares to appreciate significantly very soon.
Eric NuttallOwned
oilgas
At least 15 years of drilling inventory in Bakken play. Very strong balance sheet (almost no debt). Expecting ~60% of free cash flow returning to shareholders. Trading under 3x cash flow with $80 oil. Expecting ~$29 share price next year given $80 oil. Expecting strong performance in 2024. Value proposition very strong.