Piper Sandler Issues Pessimistic Forecast for EagleRock Land (NYSE:EROK) Stock Price

EagleRock Land (NYSE:EROK) had its target price cut by research analysts at Piper Sandler from $31.00 to $29.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler‘s price objective suggests a potential upside of 52.79% from the company’s previous close.

Several other brokerages have also issued reports on EROK. The Goldman Sachs Group raised their target price on shares of EagleRock Land from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. JPMorgan Chase & Co. dropped their price target on shares of EagleRock Land from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th. Weiss Ratings upgraded EagleRock Land from a “sell (e-)” rating to a “sell (e)” rating in a research report on Tuesday. Finally, Barclays lifted their price objective on EagleRock Land from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, EagleRock Land currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.33.

EagleRock Land Price Performance

EagleRock Land stock traded down $0.14 during mid-day trading on Thursday, hitting $18.98. The stock had a trading volume of 128,673 shares, compared to its average volume of 254,780. The firm’s 50-day moving average is $21.94. The firm has a market cap of $2.50 billion and a PE ratio of 20.19. EagleRock Land has a 12 month low of $16.99 and a 12 month high of $27.42.

EagleRock Land (NYSE:EROK) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The company had revenue of $43.35 million during the quarter. Research analysts forecast that EagleRock Land will post 1.57 earnings per share for the current year.

Institutional Investors Weigh In On EagleRock Land

Hedge funds have recently modified their holdings of the business. Caz Investments LP bought a new position in shares of EagleRock Land during the 2nd quarter valued at about $1,062,000. Citadel Advisors LLC acquired a new position in shares of EagleRock Land in the 2nd quarter valued at approximately $11,675,000. Alyeska Investment Group L.P. acquired a new position in shares of EagleRock Land in the 2nd quarter valued at approximately $1,169,000. HighTower Advisors LLC bought a new stake in EagleRock Land during the 2nd quarter worth approximately $956,000. Finally, Schwartz Investment Counsel Inc. increased its stake 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 in the last quarter.

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.