Insider Buying: Eagle Rock Energy Partners, L.P. CFO Robert M. Haines Acquires 5,000 Shares of Stock (EROC)
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) CFO Robert M. Haines acquired 5,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were purchased at an average price of $4.10 per share, with a total value of $20,500.00. Following the acquisition, the chief financial officer now directly owns 117,211 shares in the company, valued at approximately $480,565. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average target price of $5.51.
Shares of Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) traded up 5.85% during mid-day trading on Monday, hitting $4.34. The stock had a trading volume of 887,384 shares. 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 $4.48 and its 200-day moving average is $4.70. The company’s market cap is $682.9 million. Eagle Rock Energy Partners, L.P. also was the recipient of a significant 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 daily trading volume, of 442,944 shares, the short-interest ratio is currently 2.2 days. Currently, 0.9% of the shares of the stock are sold short.
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) last posted its quarterly 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. 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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