EagleRock Land, LLC (NYSE:EROK) Receives $26.83 Consensus Target Price from Brokerages

Shares of EagleRock Land, LLC (NYSE:EROK) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $26.8333.

Several equities analysts have issued reports on EROK shares. Wall Street Zen raised EagleRock Land to a “hold” rating in a research note on Saturday, May 23rd. 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. Stephens assumed coverage on shares of EagleRock Land in a research note on Monday, June 8th. They issued an “overweight” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of EagleRock Land in a research report on Monday, June 8th. They set an “overweight” rating and a $25.00 target price on the stock. Finally, The Goldman Sachs Group increased their target price on shares of EagleRock Land from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st.

Hedge Funds Weigh In On EagleRock Land

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

EagleRock Land Price Performance

EROK stock opened at $24.51 on Friday. The stock has a 50-day simple moving average of $22.45. EagleRock Land has a 1-year low of $19.75 and a 1-year high of $27.42.

EagleRock Land (NYSE:EROK) last announced its quarterly earnings data 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. EagleRock Land’s revenue for the quarter was up 74.0% compared to the same quarter last year. Analysts expect that EagleRock Land will post 0.97 earnings per share for the current year.

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.