ERock, Inc. $EROC Stock Holdings Increased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP increased its stake in ERock, Inc. (NYSE:EROC) by 1,725.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 168,964 shares of the company’s stock after acquiring an additional 159,706 shares during the period. Fulcrum Asset Management LLP’s holdings in ERock were worth $2,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in EROC. Pictet Asset Management Holding SA grew its stake in ERock by 16.6% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,232,208 shares of the company’s stock worth $15,107,000 after buying an additional 175,527 shares during the last quarter. CenterBook Partners LP acquired a new stake in ERock in the third quarter worth $3,134,000. Total Clarity Wealth Management Inc. acquired a new stake in ERock in the third quarter worth $319,000. Counterpoint Mutual Funds LLC bought a new stake in ERock in the third quarter valued at $617,000. Finally, Q Fund Management Hong Kong Ltd bought a new stake in ERock in the third quarter valued at $510,000.

Analyst Upgrades and Downgrades

EROC has been the subject of several analyst reports. Morgan Stanley boosted their price target on shares of ERock from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, August 17th. JPMorgan Chase & Co. lowered their price target on shares of ERock from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Guggenheim dropped their price objective on shares of ERock from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, September 2nd. Bank of America upgraded shares of ERock from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday, July 17th. Finally, Weiss Ratings assumed coverage on shares of ERock in a research note on Friday, September 4th. They set a “sell (e-)” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ERock has a consensus rating of “Moderate Buy” and an average target price of $21.75.

ERock Price Performance

Shares of EROC stock opened at $7.91 on Wednesday. ERock, Inc. has a 12-month low of $6.41 and a 12-month high of $20.70. The company has a market cap of $381.02 million and a price-to-earnings ratio of -131.83. The business has a 50 day simple moving average of $10.81.

ERock (NYSE:EROC) last announced its earnings results on Tuesday, August 11th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.25. The business had revenue of $39.88 million for the quarter, compared to the consensus estimate of $26.45 million. On average, sell-side analysts forecast that ERock, Inc. will post -0.32 EPS for the current fiscal year.

ERock Company Profile

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.