Piper Sandler Forecasts Strong Price Appreciation for EagleRock Land (NYSE:EROK) Stock

EagleRock Land (NYSE:EROK) had its target price hoisted by equities research analysts at Piper Sandler from $28.00 to $33.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 32.48% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of EagleRock Land to a “hold” rating in a report on Saturday, May 23rd. Texas Capital raised EagleRock Land to a “strong-buy” rating in a report on Monday, June 8th. JPMorgan Chase & Co. assumed coverage on EagleRock Land in a research report on Monday, June 8th. They issued an “overweight” rating and a $25.00 price target on the stock. Pickering Energy Partners initiated coverage on EagleRock Land in a research note on Monday, June 8th. They set an “outperform” rating for the company. Finally, Weiss Ratings assumed coverage on EagleRock Land in a research report on Friday, August 14th. They set a “sell (e)” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, EagleRock Land has an average rating of “Moderate Buy” and a consensus price target of $27.67.

EagleRock Land Price Performance

Shares of EagleRock Land stock traded down $0.49 during trading on Tuesday, reaching $24.91. The company’s stock had a trading volume of 23,701 shares, compared to its average volume of 263,430. The stock has a 50-day moving average price of $22.69. 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 issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.29) earnings per share 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 business’s revenue for the quarter was up 74.0% on a year-over-year basis. Analysts anticipate that EagleRock Land will post 0.97 earnings per share for the current year.

Institutional Trading of EagleRock Land

Hedge funds have recently made changes to their positions in the company. Readystate Asset Management LP purchased a new stake in shares of EagleRock Land in the second quarter valued at about $425,000. HighTower Advisors LLC acquired a new position in shares of EagleRock Land during the second quarter worth about $956,000. Caz Investments LP purchased a new position in EagleRock Land during the second quarter worth about $1,062,000. Finally, Alyeska Investment Group L.P. purchased a new position in EagleRock Land during the second quarter worth about $1,169,000.

About EagleRock Land

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.