EagleRock Land (NYSE:EROK) Stock Price Target Cut by Piper Sandler

EagleRock Land (NYSE:EROK) had its price target cut by equities researchers at Piper Sandler from $33.00 to $31.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 68.94% from the stock’s current price.

A number of other research firms also recently weighed in on EROK. The Goldman Sachs Group raised their price target on shares of EagleRock Land from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. JPMorgan Chase & Co. decreased 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. Weiss Ratings started coverage on shares of EagleRock Land in a research report on Friday, August 14th. They set a “sell (e)” rating for the company. Finally, Barclays upped their price objective 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

EagleRock Land Trading Up 5.1%

NYSE:EROK opened at $18.35 on Monday. The company has a 50-day simple moving average of $23.30. EagleRock Land has a twelve month low of $16.99 and a twelve month high of $27.42.

EagleRock Land (NYSE:EROK) last released its earnings results on Tuesday, August 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.56). The business had revenue of $46.79 million during the quarter. EagleRock Land’s quarterly revenue was up 74.0% on a year-over-year basis. Equities analysts predict that EagleRock Land will post 3.18 EPS for the current fiscal year.

Institutional Investors Weigh In On EagleRock Land

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC bought a new position in EagleRock Land in the second quarter valued at about $11,675,000. Alyeska Investment Group L.P. acquired a new stake in shares of EagleRock Land during the second quarter valued at about $1,169,000. Caz Investments LP acquired a new stake in shares of EagleRock Land during the second quarter valued at about $1,062,000. HighTower Advisors LLC bought a new stake in shares of EagleRock Land during the second quarter worth about $956,000. Finally, Readystate Asset Management LP bought a new stake in shares of EagleRock Land during the second quarter worth about $425,000.

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.