EagleRock Land (NYSE:EROK) Announces Quarterly Earnings Results, Beats Expectations By $1.00 EPS

EagleRock Land (NYSE:EROK) posted its quarterly earnings results on Monday. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $1.00, Zacks reports.

EagleRock Land Stock Performance

Shares of NYSE:EROK traded up $1.33 during midday trading on Monday, reaching $24.30. 185,186 shares of the company traded hands, compared to its average volume of 283,783. EagleRock Land has a 12 month low of $19.75 and a 12 month high of $24.80. The business’s fifty day moving average price is $21.34.

Insider Activity

In other news, Director Jeff Slaughter Lott purchased 250,000 shares of the stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $18.50 per share, with a total value of $4,625,000.00. Following the completion of the acquisition, the director owned 250,000 shares in the company, valued at $4,625,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael Wayne Wallace bought 250,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $18.50 per share, for a total transaction of $4,625,000.00. Following the acquisition, the director directly owned 250,000 shares in the company, valued at $4,625,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 518,918 shares of company stock valued at $9,599,983.

Analyst Ratings Changes

EROK has been the topic of several analyst reports. Zacks Research raised EagleRock Land to a “hold” rating in a research report on Tuesday, June 9th. Piper Sandler initiated coverage on shares of EagleRock Land in a report on Monday, June 8th. They issued an “overweight” rating and a $28.00 target price for the company. Raymond James Financial started coverage on EagleRock Land in a research report on Monday, June 8th. They set an “outperform” rating and a $25.00 price target for the company. JPMorgan Chase & Co. started coverage on EagleRock Land in a research report on Monday, June 8th. They issued an “overweight” rating and a $25.00 price objective on the stock. Finally, Pickering Energy Partners assumed coverage on EagleRock Land in a research note on Monday, June 8th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

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.