Insider Buying: Eagle Rock Energy Partners, L.P. CFO Acquires 5,000 Shares of Stock (EROC)
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) CFO Robert M. Haines bought 5,000 shares of Eagle Rock Energy Partners, L.P. stock on the open market in a transaction dated Wednesday, August 27th. The stock was purchased at an average cost of $4.10 per share, for a total transaction of $20,500.00. Following the purchase, the chief financial officer now directly owns 117,211 shares of the company’s stock, valued at approximately $480,565. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) traded up 0.49% on Thursday, hitting $4.10. The stock had a trading volume of 622,000 shares. Eagle Rock Energy Partners, L.P. has a 1-year low of $3.97 and a 1-year high of $7.88. The stock’s 50-day moving average is $4.49 and its 200-day moving average is $4.70. The company’s market cap is $645.2 million. Eagle Rock Energy Partners, L.P. also was the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 961,977 shares, a growth of 45.0% from the July 31st total of 663,473 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 442,944 shares, the short-interest ratio is currently 2.2 days.
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) last announced its earnings results on Wednesday, July 30th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.01) by $0.10. On average, analysts predict that Eagle Rock Energy Partners, L.P. will post $0.03 earnings per share for the current fiscal year.
Separately, analysts at Zacks downgraded shares of Eagle Rock Energy Partners, L.P. from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. They now have a $5.20 price target on the stock. Five research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $5.51.
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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