EagleRock Land (NYSE:EROK) Stock Dropped to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded EagleRock Land from “hold” to “sell.” Despite the downgrade, analysts overall rate the stock “Moderate Buy,” with an average price target of $27.33.
• EagleRock reported quarterly earnings of $0.08 per share, missing the $0.11 consensus estimate; revenue was $43.35 million.
• The stock opened at $19.78, below its 50-day moving average of $21.72, and has traded between $16.99 and $27.42 over the past year.

EagleRock Land (NYSE:EROK - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. Barclays increased their price objective on EagleRock Land from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. reduced their price objective on shares of EagleRock Land from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Tuesday, October 13th. The Goldman Sachs Group boosted their price target on shares of EagleRock Land from $24.00 to $28.00 and gave the company a "neutral" rating in a research note on Friday, August 21st. Piper Sandler cut their price objective on shares of EagleRock Land from $31.00 to $29.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Weiss Ratings upgraded EagleRock Land from a "sell (e-)" rating to a "sell (e)" rating in a report on Tuesday. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $27.33.

EagleRock Land Price Performance

EROK opened at $19.78 on Friday. The stock has a 50 day moving average of $21.72. EagleRock Land has a twelve month low of $16.99 and a twelve month high of $27.42.

EagleRock Land (NYSE:EROK - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.03). The company had revenue of $43.35 million for the quarter. Equities analysts expect that EagleRock Land will post 1.57 earnings per share for the current year.

Institutional Trading of EagleRock Land

Several institutional investors have recently modified their holdings of the stock. Islay Capital Management LLC grew its holdings in shares of EagleRock Land by 62.7% in the 3rd quarter. Islay Capital Management LLC now owns 12,200 shares of the company's stock worth $254,000 after acquiring an additional 4,700 shares during the period. Moors & Cabot Inc. bought a new stake in shares of EagleRock Land during the 3rd quarter valued at $262,000. Squarepoint Ops LLC acquired a new stake in shares of EagleRock Land in the second quarter valued at about $324,000. Readystate Asset Management LP acquired a new position in shares of EagleRock Land during the 2nd quarter worth approximately $425,000. Finally, HighTower Advisors LLC acquired a new stake in EagleRock Land during the 2nd quarter worth approximately $956,000.

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.

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