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

EagleRock Land, LLC (NYSE:EROK) has received an average rating of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $27.6667.

Several research analysts have recently issued reports on EROK shares. Weiss Ratings initiated coverage on EagleRock Land in a research report on Friday, August 14th. They issued a “sell (e)” rating for the company. Barclays boosted their price target on EagleRock Land from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group raised their price objective on EagleRock Land from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Stephens started coverage on EagleRock Land in a research note on Monday, June 8th. They issued an “overweight” rating and a $28.00 target price on the stock. Finally, Wall Street Zen raised EagleRock Land to a “hold” rating in a report on Saturday, May 23rd.

EagleRock Land Stock Performance

Shares of EROK opened at $24.44 on Wednesday. The company’s 50-day moving average is $23.67. EagleRock Land has a 1-year low of $19.75 and a 1-year high of $27.42.

EagleRock Land (NYSE:EROK) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Research analysts expect that EagleRock Land will post 3.18 EPS for the current year.

Hedge Funds Weigh In On EagleRock Land

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

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.