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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.