Eagle Rock Energy Partners Stock Price Down 16.7% After Analyst Downgrade (EROC)
Shares of Eagle Rock Energy Partners (NASDAQ:EROC) were down 16.7% during mid-day trading on Thursday after RBC Capital lowered their price target on the stock from $7.00 to $5.00, AnalystRatingsNetwork.com reports. RBC Capital currently has a sector perform rating on the stock. Eagle Rock Energy Partners traded as low as $3.98 and last traded at $4.04, with a volume of 6,778,205 shares changing hands. The stock had previously closed at $4.85.
A number of other analysts have also recently weighed in on EROC. Analysts at Bank of America reiterated a “neutral” rating on shares of Eagle Rock Energy Partners in a research note on Thursday. They now have a $5.50 price target on the stock, down previously from $6.50. Analysts at Wells Fargo & Co. downgraded shares of Eagle Rock Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Friday, February 28th. Six research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus target price of $6.65.
The stock’s 50-day moving average is $5.05 and its 200-day moving average is $5.68. The company’s market cap is $625.5 million.
Energy Rock Energy Partners, L.P. is a limited partnership engaged in the business of gathering, compressing, treating, processing and transporting natural gas, fractionating and transporting natural gas liquids (NASDAQ:EROC), and marketing natural gas, condensate and NGLs; acquiring, developing and producing interests in oil and natural gas properties, and acquiring and managing fee mineral, overriding royalty and royalty interests The Midstream Business is located in five natural gas producing regions: the Texas Panhandle, East Texas/Louisiana, South Texas, West Texas and Gulf of Mexico.
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