EagleRock Land, LLC (NYSE:EROK) Stock Rated “Moderate Buy” by Sell-Side Analysts

EagleRock Land, LLC (NYSE:EROK) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $28.00.

Several research analysts recently commented on EROK shares. Barclays lifted their price target on EagleRock Land from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Weiss Ratings began coverage on EagleRock Land in a research report on Friday, August 14th. They set a “sell (e)” rating on the stock. The Goldman Sachs Group raised their price objective on EagleRock Land from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. JPMorgan Chase & Co. decreased their price target on EagleRock Land from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Piper Sandler increased their price target on EagleRock Land from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st.

EagleRock Land Trading Down 2.9%

Shares of EROK opened at $18.44 on Friday. The stock has a fifty day simple moving average of $23.69. EagleRock Land has a fifty-two week low of $18.30 and a fifty-two week high of $27.42.

EagleRock Land (NYSE:EROK) last released its quarterly earnings results 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 business’s revenue was up 74.0% compared to the same quarter last year. As a group, analysts anticipate that EagleRock Land will post 3.18 EPS for the current year.

Institutional Inflows and Outflows

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

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.