EagleRock Land (NYSE:EROK) Announces Earnings Results

EagleRock Land (NYSE:EROK) issued its quarterly earnings results on Monday. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $1.00, Zacks reports.

EagleRock Land Stock Up 5.8%

Shares of EROK stock traded up $1.33 during trading hours on Monday, reaching $24.30. The company had a trading volume of 185,186 shares, compared to its average volume of 283,783. EagleRock Land has a 12 month low of $19.75 and a 12 month high of $24.80. The firm has a fifty day moving average of $21.34.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EROK. The Goldman Sachs Group started coverage on EagleRock Land in a research note on Monday, June 8th. They issued a “neutral” rating and a $24.00 price objective on the stock. Wall Street Zen raised EagleRock Land to a “hold” rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. began coverage on EagleRock Land in a report on Monday, June 8th. They set an “overweight” rating and a $25.00 price target on the stock. Pickering Energy Partners initiated coverage on shares of EagleRock Land in a research report on Monday, June 8th. They set an “outperform” rating on the stock. Finally, Piper Sandler began coverage on shares of EagleRock Land in a report on Monday, June 8th. They issued an “overweight” rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, EagleRock Land presently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Insider Buying and Selling

In related news, Director Stephanie L. Reed purchased 13,513 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $18.50 per share, with a total value of $249,990.50. Following the transaction, the director owned 13,513 shares of the company’s stock, valued at $249,990.50. This represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff Slaughter Lott acquired 250,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were bought at an average price of $18.50 per share, for a total transaction of $4,625,000.00. Following the completion of the purchase, the director owned 250,000 shares in the company, valued at approximately $4,625,000. This represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 518,918 shares of company stock worth $9,599,983.

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.