EagleRock Land (NYSE:EROK) Announces Earnings Results, Misses Expectations By $0.03 EPS

EagleRock Land (NYSE:EROK) issued its quarterly earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03), Zacks reports.

EagleRock Land Trading Up 1.0%

Shares of NYSE EROK traded up $0.19 during midday trading on Tuesday, reaching $19.13. 178,549 shares of the stock were exchanged, compared to its average volume of 254,386. The company has a market capitalization of $2.52 billion and a price-to-earnings ratio of 20.35. EagleRock Land has a twelve month low of $16.99 and a twelve month high of $27.42. The firm has a 50-day moving average price of $22.20.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of EagleRock Land from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Piper Sandler cut their price objective on shares of EagleRock Land from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. JPMorgan Chase & Co. cut their price objective on shares of EagleRock Land from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. Barclays raised their target price on shares of EagleRock Land from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings downgraded shares of EagleRock Land from a “sell (e)” rating to a “sell (e-)” rating in a research report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, EagleRock Land currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

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.