ERock (NYSE:EROC) Given New $22.00 Price Target at Barclays

ERock (NYSE:EROC) had its price objective dropped by analysts at Barclays from $23.00 to $22.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 182.41% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley boosted their target price on ERock from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. JPMorgan Chase & Co. reduced their price target on ERock from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Weiss Ratings started coverage on shares of ERock in a report on Friday, September 4th. They set a “sell (e-)” rating for the company. Guggenheim decreased their price objective on shares of ERock from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, September 2nd. Finally, Bank of America raised ERock from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.62.

ERock Price Performance

Shares of EROC stock traded down $0.55 during trading on Friday, hitting $7.79. 787,302 shares of the company were exchanged, compared to its average volume of 2,627,749. The company has a market capitalization of $375.24 million and a price-to-earnings ratio of -129.83. ERock has a twelve month low of $6.41 and a twelve month high of $20.70. The business’s 50-day moving average is $10.70.

ERock (NYSE:EROC) last posted its earnings results on Thursday, November 12th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $152.77 million during the quarter. On average, equities analysts predict that ERock will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On ERock

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bogart Wealth LLC bought a new position in shares of ERock during the 3rd quarter worth approximately $25,000. Russell Investments Group Ltd. acquired a new position in shares of ERock during the 3rd quarter valued at $26,000. Global Retirement Partners LLC bought a new position in ERock during the third quarter worth $28,000. Total Clarity Wealth Management Inc. bought a new stake in ERock in the third quarter valued at $319,000. Finally, Q Fund Management Hong Kong Ltd bought a new stake in ERock in the 3rd quarter valued at about $510,000.

Latest ERock News

Here’s some of the latest news about EROC:

• Positive Sentiment: On an adjusted basis, quarterly EPS of $0.04 beat the consensus estimate of a $0.01 loss, supporting the view that operating performance is improving. Quarterly earnings report
• Neutral Sentiment: Analyst coverage cited an average price target of $21.75, though targets are estimates and do not guarantee future performance. Average analyst price target
• Negative Sentiment: GAAP EPS was a loss of $0.31, missing the estimate of a $0.02 loss—a contrast with the adjusted EPS beat that may have weighed on sentiment. GAAP EPS results

About ERock

ERock, formally Eagle Rock Energy Partners, L.P., was a Houston-based master limited partnership focused on natural gas and oil. Its businesses included midstream services such as gathering, processing and treating natural gas, as well as exploration and production activities. The partnership operated assets in several U.S. regions, including the Permian Basin and Gulf Coast. In 2014, it sold its upstream business to Vanguard Natural Resources and its remaining midstream operations to Regency Energy Partners, ending its operations as an independent company.