EagleRock Land (NYSE:EROK) Reaches New 1-Year Low After Analyst Downgrade

Shares of EagleRock Land, LLC (NYSE:EROK) reached a new 52-week low during trading on Tuesday after Weiss Ratings downgraded the stock from a sell (e) rating to a sell (e-) rating. The stock traded as low as $16.99 and last traded at $17.41, with a volume of 209,277 shares changing hands. The stock had previously closed at $17.57.

A number of other research analysts also recently weighed in on EROK. Piper Sandler decreased their price objective on shares of EagleRock Land from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday. Barclays increased their target price on shares of EagleRock Land from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group raised their target price on EagleRock Land from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. cut their price target on EagleRock Land from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, EagleRock Land presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Institutional Trading of EagleRock Land

Several institutional investors have recently modified their holdings of EROK. Citadel Advisors LLC purchased a new stake in shares of EagleRock Land during the second quarter worth about $11,675,000. Alyeska Investment Group L.P. acquired a new stake in EagleRock Land in the 2nd quarter worth about $1,169,000. Caz Investments LP acquired a new stake in EagleRock Land in the 2nd quarter worth about $1,062,000. HighTower Advisors LLC acquired a new stake in EagleRock Land in the 2nd quarter worth about $956,000. Finally, Readystate Asset Management LP acquired a new stake in EagleRock Land in the 2nd quarter worth about $425,000.

EagleRock Land Stock Up 0.2%

The stock has a 50 day moving average of $23.17.

EagleRock Land (NYSE:EROK) last announced its earnings results on Tuesday, August 11th. The company reported ($0.29) 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 for the quarter was up 74.0% compared to the same quarter last year. On average, analysts expect that EagleRock Land, LLC will post 1.57 EPS for the current 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.