EagleRock Land (NYSE:EROK) Stock Gets Price Target Cut from JPMorgan Chase & Co.

EagleRock Land (NYSE:EROK) had its price target reduced by JPMorgan Chase & Co. from $29.00 to $27.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also commented on the stock. Piper Sandler boosted their price target on shares of EagleRock Land from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. 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. Weiss Ratings assumed coverage on shares of EagleRock Land in a report on Friday, August 14th. They set a “sell (e)” rating on the stock. Finally, The Goldman Sachs Group lifted their target price on shares of EagleRock Land from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, EagleRock Land presently has an average rating of “Moderate Buy” and an average price target of $28.00.

EagleRock Land Price Performance

Shares of EagleRock Land stock opened at $18.44 on Tuesday. EagleRock Land has a fifty-two week low of $18.30 and a fifty-two week high of $27.42. The stock has a 50-day moving average price of $23.69.

EagleRock Land (NYSE:EROK) last issued its quarterly 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. The company’s revenue was up 74.0% on a year-over-year basis. On average, sell-side analysts predict that EagleRock Land will post 3.18 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new position in shares of EagleRock Land during the 2nd quarter worth approximately $324,000. Readystate Asset Management LP acquired a new stake in shares of EagleRock Land in the second quarter valued at approximately $425,000. HighTower Advisors LLC acquired a new stake in shares of EagleRock Land in the second quarter valued at approximately $956,000. Caz Investments LP purchased a new position in EagleRock Land during the second quarter worth approximately $1,062,000. Finally, Alyeska Investment Group L.P. purchased a new position in EagleRock Land during the second quarter worth approximately $1,169,000.

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.