Insider Buying: Robert M. Haines Purchases 5,000 Shares of Eagle Rock Energy Partners, L.P. Stock (EROC)
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) CFO Robert M. Haines bought 5,000 shares of the stock on the open market in a transaction dated Wednesday, August 27th. The stock was purchased at an average price of $4.10 per share, for a total transaction of $20,500.00. Following the completion of the acquisition, 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 document filed with the Securities & Exchange Commission, which is available at this link.
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’s 50-day moving average is $4.49 and its 200-day moving average is $4.70. The company’s market cap is $660.9 million. Eagle Rock Energy Partners, L.P. also was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totalling 961,977 shares, an increase of 45.0% from the July 31st total of 663,473 shares. Based on an average trading volume of 442,944 shares, the short-interest ratio is presently 2.2 days. Approximately 0.9% of the shares of the stock are short sold.
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.11) earnings per share for the quarter, missing the analysts’ 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 investment analysts have rated the stock with a hold rating, Eagle Rock Energy Partners, L.P. has an average rating of “Hold” and an average target price 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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