EagleRock Land (NYSE:EROK) Stock Gets Price Target Cut from Piper Sandler

EagleRock Land (NYSE:EROK) had its price objective reduced by investment analysts at Piper Sandler from $33.00 to $31.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 75.74% from the company’s current price.

EROK has been the topic of several other research reports. Weiss Ratings initiated coverage on EagleRock Land in a report on Friday, August 14th. They set a “sell (e)” rating on the stock. The Goldman Sachs Group lifted their price target 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. Barclays boosted their price objective 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of EagleRock Land from $29.00 to $27.00 and set an “overweight” rating for the company in a report 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

EagleRock Land Stock Performance

Shares of NYSE EROK opened at $17.64 on Monday. The firm’s 50-day moving average is $23.59. EagleRock Land has a 52 week low of $17.56 and a 52 week high of $27.42. The firm has a market cap of $2.32 billion and a price-to-earnings ratio of 18.77.

EagleRock Land (NYSE:EROK) last posted its earnings results on Tuesday, August 11th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.56). The company had revenue of $46.79 million during the quarter. The firm’s revenue for the quarter was up 74.0% on a year-over-year basis. As a group, analysts predict that EagleRock Land will post 3.18 earnings per share for the current year.

Hedge Funds Weigh In On EagleRock Land

A number of institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in shares of EagleRock Land during the 2nd quarter worth about $324,000. Readystate Asset Management LP bought a new stake in EagleRock Land during the 2nd quarter valued at approximately $425,000. HighTower Advisors LLC acquired a new stake in EagleRock Land in the 2nd quarter valued at approximately $956,000. Caz Investments LP acquired a new stake in EagleRock Land in the 2nd quarter valued at approximately $1,062,000. Finally, Alyeska Investment Group L.P. acquired a new stake in EagleRock Land in the 2nd quarter valued at 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.