EagleRock Land, LLC (NYSE:EROK) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of EagleRock Land, LLC (NYSE:EROK) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $27.33.

Several research firms recently weighed in on EROK. Wall Street Zen cut shares of EagleRock Land from a “hold” rating to a “sell” rating in a research report on Saturday, November 7th. The Goldman Sachs Group upped their price objective on EagleRock Land from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Piper Sandler decreased their price objective on EagleRock Land from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. Weiss Ratings raised EagleRock Land from a “sell (e-)” rating to a “sell (e)” rating in a research note on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. lowered their target price on EagleRock Land from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th.

Hedge Funds Weigh In On EagleRock Land

Hedge funds have recently added to or reduced their stakes in the company. Schwartz Investment Counsel Inc. raised its holdings in EagleRock Land by 18.8% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 579,996 shares of the company’s stock worth $12,064,000 after purchasing an additional 91,881 shares during the last quarter. Citadel Advisors LLC acquired a new position in EagleRock Land during the 2nd quarter valued at about $11,675,000. Alyeska Investment Group L.P. acquired a new position in EagleRock Land during the 2nd quarter valued at about $1,169,000. Caz Investments LP bought a new position in shares of EagleRock Land in the 2nd quarter valued at about $1,062,000. Finally, HighTower Advisors LLC bought a new position in shares of EagleRock Land in the 2nd quarter valued at about $956,000.

EagleRock Land Stock Performance

Shares of NYSE EROK opened at $21.97 on Thursday. EagleRock Land has a 1-year low of $16.99 and a 1-year high of $27.42. The company has a market capitalization of $2.89 billion and a P/E ratio of 21.54. The business has a 50-day moving average of $21.49.

EagleRock Land (NYSE:EROK) last announced its earnings results on Tuesday, November 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The firm had revenue of $43.35 million for the quarter. As a group, research analysts expect that EagleRock Land will post 1.39 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.