EagleRock Land (NYSE:EROK) Price Target Raised to $33.00

EagleRock Land (NYSE:EROK) had its target price upped by Piper Sandler from $28.00 to $33.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also recently commented on EROK. Weiss Ratings assumed coverage on shares of EagleRock Land in a research note on Friday, August 14th. They issued a “sell (e)” rating for the company. Texas Capital raised EagleRock Land to a “strong-buy” rating in a report on Monday, June 8th. Wall Street Zen raised EagleRock Land to a “hold” rating in a report on Saturday, May 23rd. Raymond James Financial initiated coverage on EagleRock Land in a research report on Monday, June 8th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, Pickering Energy Partners initiated coverage on EagleRock Land in a report on Monday, June 8th. They issued an “outperform” rating for the company. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

EagleRock Land Trading Up 0.6%

Shares of EROK stock opened at $25.80 on Tuesday. The company has a 50 day moving average of $22.98. EagleRock Land has a twelve month low of $19.75 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 firm had revenue of $46.79 million during the quarter. The firm’s revenue for the quarter was up 74.0% compared to the same quarter last year. On average, equities analysts expect that EagleRock Land will post 3.18 EPS for the current year.

Institutional Investors Weigh In On EagleRock Land

Several institutional investors and hedge funds have recently made changes to their positions in the business. Readystate Asset Management LP purchased a new stake in shares of EagleRock Land in the second quarter valued at about $425,000. HighTower Advisors LLC purchased a new position in shares of EagleRock Land during the 2nd quarter worth approximately $956,000. Caz Investments LP purchased a new position in shares of EagleRock Land during the 2nd quarter worth approximately $1,062,000. Alyeska Investment Group L.P. purchased a new position in shares of EagleRock Land during the 2nd quarter worth approximately $1,169,000. Finally, Citadel Advisors LLC acquired a new position in shares of EagleRock Land during the 2nd quarter worth approximately $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.