Barclays Issues Positive Forecast for EagleRock Land (NYSE:EROK) Stock Price

EagleRock Land (NYSE:EROK) had its price target lifted by investment analysts at Barclays from $25.00 to $27.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 4.65% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Zacks Research raised shares of EagleRock Land to a “hold” rating in a research note on Tuesday, June 9th. Piper Sandler assumed coverage on EagleRock Land in a research note on Monday, June 8th. They issued an “overweight” rating and a $28.00 price target on the stock. Texas Capital upgraded EagleRock Land to a “strong-buy” rating in a research report on Monday, June 8th. Pickering Energy Partners started coverage on EagleRock Land in a research note on Monday, June 8th. They set an “outperform” rating for the company. Finally, Wall Street Zen upgraded EagleRock Land to a “hold” rating in a report on Saturday, May 23rd. One research 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.17.

EagleRock Land Stock Performance

EagleRock Land stock opened at $25.80 on Wednesday. EagleRock Land has a 1 year low of $19.75 and a 1 year high of $26.33. The company’s 50-day simple moving average is $21.46.

EagleRock Land (NYSE:EROK) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.56). The firm had revenue of $46.79 million for the quarter. The business’s revenue for the quarter was up 74.0% on a year-over-year basis. On average, analysts forecast that EagleRock Land will post 1.2 earnings per share for the current year.

Insider Activity at EagleRock Land

In related news, Director Jeff Slaughter Lott bought 250,000 shares of EagleRock Land stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $18.50 per share, with a total value of $4,625,000.00. Following the purchase, the director owned 250,000 shares in the company, valued at approximately $4,625,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Wayne Wallace bought 250,000 shares of EagleRock Land stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average cost of $18.50 per share, with a total value of $4,625,000.00. Following the completion of the purchase, the director owned 250,000 shares in the company, valued at approximately $4,625,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 518,918 shares of company stock valued at $9,599,983.

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.