Eagle Rock Energy Partners, L.P. Sees Large Decline in Short Interest (EROC)
Shares of Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 439,975 shares, a drop of 38.9% from the April 15th total of 720,094 shares, Analyst RN reports. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 2,155,079 shares, the short-interest ratio is presently 0.2 days.
A number of research firms have recently commented on EROC. Analysts at RBC Capital cut their price target on shares of Eagle Rock Energy Partners, L.P. from $7.00 to $5.00 in a research note on Thursday, April 24th. They now have a “sector perform” rating on the stock. Separately, analysts at Bank of America reiterated a “neutral” rating on shares of Eagle Rock Energy Partners, L.P. in a research note on Thursday, April 24th. They now have a $5.50 price target on the stock, down previously from $6.50. Finally, analysts at Wells Fargo & Co. downgraded shares of Eagle Rock Energy Partners, L.P. from an “outperform” rating to a “market perform” rating in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus price target of $6.06.
Shares of Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) opened at 4.17 on Tuesday. Eagle Rock Energy Partners, L.P. has a 52-week low of $3.97 and a 52-week high of $8.91. The stock has a 50-day moving average of $4.61 and a 200-day moving average of $5.28. The company’s market cap is $653.2 million.
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.04) by $0.07. Analysts expect that Eagle Rock Energy Partners, L.P. will post $0.08 EPS for the current fiscal year.
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) is a limited partnership engaged in the business of gathering, compressing, treating, processing and transporting natural gas; fractionating and transporting natural gas liquids (NGLs); crude oil logistics and marketing; natural gas marketing and trading, known as Midstream Business, and developing and producing interests in oil and natural gas properties, known as Upstream Business.
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