EagleRock Land (NYSE:EROK) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

EagleRock Land (NYSE:EROK) had its price objective increased by research analysts at The Goldman Sachs Group from $24.00 to $28.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 3.90% from the company’s previous close.

Several other analysts have also commented on the stock. Pickering Energy Partners began coverage on shares of EagleRock Land in a research report on Monday, June 8th. They set an “outperform” rating for the company. Wall Street Zen upgraded shares of EagleRock Land to a “hold” rating in a research note on Saturday, May 23rd. Piper Sandler began coverage on shares of EagleRock Land in a report on Monday, June 8th. They issued an “overweight” rating and a $28.00 price target on the stock. Weiss Ratings began coverage on EagleRock Land in a report on Friday, August 14th. They set a “sell (e)” rating on the stock. Finally, Texas Capital upgraded shares of EagleRock Land to a “strong-buy” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, EagleRock Land presently has a consensus rating of “Moderate Buy” and an average target price of $26.83.

EagleRock Land Trading Up 3.0%

Shares of NYSE:EROK traded up $0.79 on Friday, reaching $26.95. The company had a trading volume of 77,109 shares, compared to its average volume of 279,695. EagleRock Land has a 52-week low of $19.75 and a 52-week high of $27.42. The business has a 50 day moving average of $22.03.

EagleRock Land (NYSE:EROK) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.56). The company had revenue of $46.79 million during the quarter. The business’s revenue was up 74.0% on a year-over-year basis. Research analysts predict that EagleRock Land will post 1.2 EPS for the current year.

Institutional Investors Weigh In On EagleRock Land

A hedge fund recently bought a new stake in EagleRock Land stock. Alyeska Investment Group L.P. acquired a new position in shares of EagleRock Land, LLC (NYSE:EROK) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 55,000 shares of the company’s stock, valued at approximately $1,169,000.

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.