EagleRock Land (NYSE:EROK) Issues Quarterly Earnings Results

EagleRock Land (NYSE:EROK) announced its quarterly earnings results on Monday. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $1.00, Zacks reports.

EagleRock Land Stock Up 5.8%

EROK stock traded up $1.33 during midday trading on Monday, hitting $24.30. The stock had a trading volume of 185,186 shares, compared to its average volume of 283,783. EagleRock Land has a 1-year low of $19.75 and a 1-year high of $24.80. The company’s fifty day moving average price is $21.34.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Pickering Energy Partners began coverage on EagleRock Land in a report on Monday, June 8th. They issued an “outperform” rating for the company. Piper Sandler began coverage on EagleRock Land in a report on Monday, June 8th. They set an “overweight” rating and a $28.00 target price on the stock. Barclays 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. JPMorgan Chase & Co. began coverage on EagleRock Land in a research note on Monday, June 8th. They issued an “overweight” rating and a $25.00 price target for the company. Finally, Raymond James Financial began coverage on EagleRock Land in a research report on Monday, June 8th. They set an “outperform” rating and a $25.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Insiders Place Their Bets

In related news, Director Stephanie L. Reed bought 13,513 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $18.50 per share, for a total transaction of $249,990.50. Following the transaction, the director directly owned 13,513 shares of the company’s stock, valued at approximately $249,990.50. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raj Kumar bought 5,405 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $18.50 per share, for a total transaction of $99,992.50. Following the completion of the purchase, the director owned 5,405 shares of the company’s stock, valued at $99,992.50. This represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 518,918 shares of company stock valued at $9,599,983.

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.