EagleRock Land, LLC (NYSE:EROK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of EagleRock Land, LLC (NYSE:EROK) have received an average rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $27.6667.

EROK has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on shares of EagleRock Land from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Piper Sandler upped their price objective on EagleRock Land from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Weiss Ratings began coverage on EagleRock Land in a report on Friday, August 14th. They set a “sell (e)” rating for the company. Texas Capital raised EagleRock Land to a “strong-buy” rating in a research report on Monday, June 8th. Finally, Stephens started coverage on EagleRock Land in a research note on Monday, June 8th. They issued an “overweight” rating and a $28.00 target price on the stock.

EagleRock Land Trading Down 5.2%

Shares of NYSE:EROK opened at $22.40 on Wednesday. The business has a 50-day moving average of $23.85. EagleRock Land has a fifty-two week low of $19.75 and a fifty-two week high of $27.42.

EagleRock Land (NYSE:EROK) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.56). The company had revenue of $46.79 million for the quarter. The company’s revenue was up 74.0% on a year-over-year basis. On average, analysts expect that EagleRock Land will post 3.18 EPS for the current year.

Institutional Investors Weigh In On EagleRock Land

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EROK. Citadel Advisors LLC bought a new position in EagleRock Land during the second quarter worth about $11,675,000. Alyeska Investment Group L.P. purchased a new position in shares of EagleRock Land in the second quarter worth about $1,169,000. Caz Investments LP bought a new stake in shares of EagleRock Land in the second quarter valued at approximately $1,062,000. HighTower Advisors LLC bought a new stake in shares of EagleRock Land in the second quarter valued at approximately $956,000. Finally, Readystate Asset Management LP purchased a new stake in shares of EagleRock Land during the 2nd quarter valued at approximately $425,000.

EagleRock Land Company Profile

EagleRock Land, LLC is a land management royalty company which controls surface acreage in the core of the Permian Basin providing access to land, resources and infrastructure for critical industries. EagleRock Land, LLC is based in HOUSTON.