Readystate Asset Management LP Invests $425,000 in EagleRock Land, LLC $EROK

Readystate Asset Management LP acquired a new stake in shares of EagleRock Land, LLC (NYSE:EROK) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 20,000 shares of the company’s stock, valued at approximately $425,000.

Separately, Alyeska Investment Group L.P. purchased a new position in EagleRock Land during the second quarter valued at approximately $1,169,000.

Analysts Set New Price Targets

A number of research firms have weighed in on EROK. Barclays upped their price target on shares of EagleRock Land from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Zacks Research upgraded shares of EagleRock Land to a “hold” rating in a research note on Tuesday, June 9th. Raymond James Financial assumed coverage on shares of EagleRock Land in a report on Monday, June 8th. They issued an “outperform” rating and a $25.00 target price for the company. 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 note on Friday, August 21st. Finally, Wall Street Zen raised EagleRock Land to a “hold” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, EagleRock Land has a consensus rating of “Moderate Buy” and an average target price of $27.67.

EagleRock Land Stock Up 1.6%

EROK stock opened at $26.26 on Wednesday. EagleRock Land, LLC has a 1-year low of $19.75 and a 1-year high of $27.42. The business has a 50 day simple moving average of $23.26.

EagleRock Land (NYSE:EROK) last released its 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. EagleRock Land’s revenue was up 74.0% compared to the same quarter last year. On average, sell-side analysts expect that EagleRock Land, LLC will post 3.18 EPS for the current fiscal year.

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.