EagleRock Land, LLC (NYSE:EROK) Stock Has Consensus Target Price of $27.67 According to Brokerages

Shares of EagleRock Land, LLC (NYSE:EROK) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $28.00.

A number of equities analysts have weighed in on EROK shares. JPMorgan Chase & Co. decreased their price target on EagleRock Land from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday. Piper Sandler lifted their price target on EagleRock Land from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Barclays boosted their target price on shares of EagleRock Land from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group increased their price target on EagleRock Land from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Finally, Weiss Ratings started coverage on shares of EagleRock Land in a report on Friday, August 14th. They issued a “sell (e)” rating on the stock.

EagleRock Land Price Performance

Shares of NYSE:EROK opened at $20.60 on Friday. EagleRock Land has a 1 year low of $19.75 and a 1 year high of $27.42. The business’s 50-day moving average price is $23.85.

EagleRock Land (NYSE:EROK) last released its quarterly earnings data 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 firm had revenue of $46.79 million for the quarter. The firm’s revenue for the quarter was up 74.0% compared to the same quarter last year. As a group, sell-side analysts forecast that EagleRock Land will post 3.18 EPS for the current year.

Hedge Funds Weigh In On EagleRock Land

Large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new position in shares of EagleRock Land during the 2nd quarter valued at $324,000. Citadel Advisors LLC acquired a new position in EagleRock Land during the second quarter valued at $11,675,000. HighTower Advisors LLC acquired a new position in shares of EagleRock Land in the 2nd quarter valued at about $956,000. Caz Investments LP purchased a new stake in EagleRock Land in the 2nd quarter worth approximately $1,062,000. Finally, Readystate Asset Management LP purchased a new stake in shares of EagleRock Land during the second quarter worth $425,000.

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.