EagleRock Land, LLC (NYSE:EROK) Receives Consensus Rating of “Moderate Buy” from Brokerages

EagleRock Land, LLC (NYSE:EROK) has received a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $27.6667.

EROK has been the topic of a number of analyst reports. Texas Capital raised shares of EagleRock Land to a “strong-buy” rating in a report on Monday, June 8th. JPMorgan Chase & Co. started coverage on EagleRock Land in a report on Monday, June 8th. They issued an “overweight” rating and a $25.00 price target for the company. Piper Sandler lifted their price target on EagleRock Land from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Pickering Energy Partners initiated coverage on EagleRock Land in a research note on Monday, June 8th. They set an “outperform” rating on the stock. Finally, Weiss Ratings began coverage on EagleRock Land in a report on Friday, August 14th. They set a “sell (e)” rating on the stock.

Institutional Investors Weigh In On EagleRock Land

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

EagleRock Land Price Performance

EROK opened at $23.75 on Wednesday. The stock has a 50-day simple moving average of $23.80. EagleRock Land has a twelve month low of $19.75 and a twelve month high of $27.42.

EagleRock Land (NYSE:EROK) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.29) 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% on a year-over-year basis. On average, equities research analysts anticipate that EagleRock Land will post 3.18 EPS for the current fiscal year.

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.