Brokerages Set EagleRock Land, LLC (NYSE:EROK) PT at $26.83

Shares of EagleRock Land, LLC (NYSE:EROK) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $26.8333.

Several research firms have recently issued reports on EROK. Zacks Research upgraded EagleRock Land to a “hold” rating in a research note on Tuesday, June 9th. Barclays raised their price objective on EagleRock Land from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Stephens began coverage on EagleRock Land in a report on Monday, June 8th. They issued an “overweight” rating and a $28.00 target price for the company. Wall Street Zen raised EagleRock Land to a “hold” rating in a research report on Saturday, May 23rd. Finally, Pickering Energy Partners started coverage on EagleRock Land in a research report on Monday, June 8th. They set an “outperform” rating for the company.

Institutional Trading of EagleRock Land

Institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC acquired a new position in EagleRock Land in the 2nd quarter valued at $956,000. Caz Investments LP bought a new position in EagleRock Land in the 2nd quarter worth $1,062,000. Readystate Asset Management LP bought a new position in EagleRock Land in the 2nd quarter worth $425,000. Finally, Alyeska Investment Group L.P. acquired a new position in EagleRock Land during the 2nd quarter worth $1,169,000.

EagleRock Land Price Performance

EROK stock opened at $24.50 on Friday. EagleRock Land has a 1 year low of $19.75 and a 1 year high of $27.42. The firm has a fifty day simple moving average of $22.60.

EagleRock Land (NYSE:EROK) last posted its earnings results on Tuesday, August 11th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.56). The business had revenue of $46.79 million for the quarter. The company’s revenue for the quarter was up 74.0% compared to the same quarter last year. Equities analysts forecast that EagleRock Land will post 0.97 earnings per share for the current year.

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.