Insider Buying: Eagle Rock Energy Partners, L.P. CEO Buys 6,000 Shares of Stock (EROC)
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) CEO Joseph A. Mills bought 6,000 shares of Eagle Rock Energy Partners, L.P. stock on the open market in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average price of $4.09 per share, for a total transaction of $24,540.00. Following the purchase, the chief executive officer now directly owns 1,150,254 shares in the company, valued at approximately $4,704,539. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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 analysts have rated the stock with a hold rating, Eagle Rock Energy Partners, L.P. presently has an average rating of “Hold” and an average price target of $5.51.
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) opened at 4.20 on Friday. Eagle Rock Energy Partners, L.P. has a 52-week low of $3.97 and a 52-week high of $7.88. The stock has a 50-day moving average of $4.49 and a 200-day moving average of $4.70. The company’s market cap is $660.9 million. Eagle Rock Energy Partners, L.P. also was the target of a significant growth in short interest in 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. Currently, 0.9% of the shares of the company are short sold. Based on an average trading volume of 442,944 shares, the short-interest ratio is presently 2.2 days.
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.10. Analysts expect that Eagle Rock Energy Partners, L.P. will post $0.03 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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