EagleRock Land (NYSE:EROK) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of EagleRock Land (NYSE:EROK) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group raised their target price on shares of EagleRock Land from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Weiss Ratings upgraded EagleRock Land from a “sell (e-)” rating to a “sell (e)” rating in a research report on Tuesday, November 3rd. Piper Sandler cut their price target on EagleRock Land from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. Barclays increased their price target on EagleRock Land from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. reduced their price objective on EagleRock Land from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, EagleRock Land has a consensus rating of “Moderate Buy” and a consensus price target of $27.33.

EagleRock Land Trading Up 6.7%

NYSE:EROK opened at $21.10 on Friday. The stock has a 50-day simple moving average of $21.66. EagleRock Land has a twelve month low of $16.99 and a twelve month high of $27.42.

EagleRock Land (NYSE:EROK) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The company had revenue of $43.35 million for the quarter. On average, research analysts anticipate that EagleRock Land will post 1.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EROK. Islay Capital Management LLC raised its stake in shares of EagleRock Land by 62.7% in the 3rd quarter. Islay Capital Management LLC now owns 12,200 shares of the company’s stock valued at $254,000 after acquiring an additional 4,700 shares during the period. Moors & Cabot Inc. acquired a new position in shares of EagleRock Land in the 3rd quarter worth approximately $262,000. Squarepoint Ops LLC acquired a new position in shares of EagleRock Land in the 2nd quarter worth approximately $324,000. Readystate Asset Management LP acquired a new position in shares of EagleRock Land in the 2nd quarter worth approximately $425,000. Finally, HighTower Advisors LLC purchased a new position in shares of EagleRock Land during the 2nd quarter worth approximately $956,000.

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.