EagleRock Land (NYSE:EROK) Given New $29.00 Price Target at Piper Sandler

EagleRock Land (NYSE:EROK) had its target price trimmed by Piper Sandler from $31.00 to $29.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

EROK has been the subject of several other research reports. Barclays increased their price objective on shares of 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 raised EagleRock Land from a “sell (e-)” rating to a “sell (e)” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of EagleRock Land from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Finally, The Goldman Sachs Group increased their price target on EagleRock Land from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.33.

EagleRock Land Price Performance

EROK stock opened at $18.49 on Thursday. The stock’s 50 day moving average price is $21.82. The stock has a market capitalization of $2.43 billion and a price-to-earnings ratio of 19.67. EagleRock Land has a fifty-two week low of $16.99 and a fifty-two week high of $27.42.

EagleRock Land (NYSE:EROK) last issued its quarterly 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, sell-side analysts forecast that EagleRock Land will post 1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Islay Capital Management LLC grew its stake in shares of EagleRock Land by 62.7% in the third quarter. Islay Capital Management LLC now owns 12,200 shares of the company’s stock valued at $254,000 after buying an additional 4,700 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in EagleRock Land in the 2nd quarter valued at about $324,000. Readystate Asset Management LP acquired a new stake in shares of EagleRock Land in the second quarter valued at approximately $425,000. HighTower Advisors LLC acquired a new position in shares of EagleRock Land during the 2nd quarter worth approximately $956,000. Finally, Caz Investments LP acquired a new position in shares of EagleRock Land during the 2nd quarter worth approximately $1,062,000.

EagleRock Land Company Profile

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.