EagleRock Land, LLC (NYSE:EROK) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• EagleRock Land has a “Moderate Buy” consensus rating from 10 analysts, with six buys, one strong buy, two holds and one sell. The average 12-month price target is $27.67, above the reported share price of $24.44.
• Recent analyst actions were generally favorable: Goldman Sachs raised its target to $28 while maintaining a neutral rating, and JPMorgan and Stephens initiated coverage with overweight ratings and targets of $25 and $28, respectively.
• Institutional investors established several new positions during the second quarter, led by Citadel Advisors’ approximately $11.7 million stake. EagleRock’s quarterly revenue rose 74% year over year to $46.79 million, although it reported an adjusted loss of $0.29 per share versus an expected $0.27 profit.

EagleRock Land, LLC (NYSE:EROK - Get Free Report) has received an average recommendation of "Moderate Buy" from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $27.6667.

Several brokerages have recently issued reports on EROK. The Goldman Sachs Group raised their target price on shares of EagleRock Land from $24.00 to $28.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. JPMorgan Chase & Co. started coverage on shares of EagleRock Land in a research report on Monday, June 8th. They set an "overweight" rating and a $25.00 price target for the company. Wall Street Zen raised shares of EagleRock Land to a "hold" rating in a report on Saturday, May 23rd. Weiss Ratings began coverage on shares of EagleRock Land in a research report on Friday, August 14th. They issued a "sell (e)" rating on the stock. Finally, Stephens began coverage on shares of EagleRock Land in a research note on Monday, June 8th. They set an "overweight" rating and a $28.00 price objective for the company.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new stake in EagleRock Land in the 2nd quarter worth approximately $11,675,000. Alyeska Investment Group L.P. purchased a new position in shares of EagleRock Land during the second quarter valued at approximately $1,169,000. Caz Investments LP purchased a new position in shares of EagleRock Land during the second quarter valued at approximately $1,062,000. HighTower Advisors LLC bought a new position in shares of EagleRock Land during the second quarter valued at approximately $956,000. Finally, Readystate Asset Management LP bought a new position in shares of EagleRock Land during the second quarter valued at approximately $425,000.

EagleRock Land Price Performance

Shares of EROK stock opened at $24.44 on Wednesday. EagleRock Land has a 1-year low of $19.75 and a 1-year high of $27.42. The firm's 50-day moving average is $23.67.

EagleRock Land (NYSE:EROK - Get Free Report) last announced its quarterly 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. EagleRock Land's revenue was up 74.0% compared to the same quarter last year. As a group, equities research analysts expect that EagleRock Land will post 3.18 EPS for the current fiscal 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.

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