EagleRock Land, LLC’s Lock-Up Period Will Expire on November 10th (NYSE:EROK)

EagleRock Land’s (NYSE:EROK) lock-up period is set to end on Tuesday, November 10th. EagleRock Land had issued 17,300,000 shares in its IPO on May 14th. The total size of the offering was $320,050,000 based on an initial share price of $18.50. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analyst Ratings Changes

EROK has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective on shares of EagleRock Land from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Weiss Ratings upgraded EagleRock Land from a “sell (e-)” rating to a “sell (e)” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of EagleRock Land from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Piper Sandler cut their price objective on shares of EagleRock Land from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Barclays increased their price objective on EagleRock Land from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, EagleRock Land has an average rating of “Moderate Buy” and an average target price of $27.33.

EagleRock Land Stock Performance

Shares of NYSE:EROK opened at $19.78 on Friday. The firm has a fifty day moving average price of $21.72. EagleRock Land has a 52 week low of $16.99 and a 52 week high of $27.42.

EagleRock Land (NYSE:EROK) last announced its earnings results on Tuesday, November 3rd. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.03). The firm had revenue of $43.35 million during the quarter. On average, sell-side analysts forecast that EagleRock Land will post 1.57 EPS for the current year.

Institutional Trading of EagleRock Land

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moors & Cabot Inc. bought a new stake in shares of EagleRock Land during the 3rd quarter valued at $262,000. Schwartz Investment Counsel Inc. raised its holdings in EagleRock Land by 18.8% in the third 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 during the period. Islay Capital Management LLC grew its holdings in shares of EagleRock Land by 62.7% in the 3rd 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 during the period. Squarepoint Ops LLC bought a new stake in shares of EagleRock Land in the 2nd quarter valued at $324,000. Finally, Citadel Advisors LLC acquired a new stake in EagleRock Land during the 2nd quarter worth $11,675,000.

About EagleRock Land

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.