EagleRock Land, LLC (NYSE:EROK) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts give EagleRock Land a “Moderate Buy” consensus: six recommend buying, one strongly recommends buying, two rate it a hold, and one recommends selling. The average 12-month price target is $27.67, with targets ranging from $27 to $33 among recently updated firms.
• Shares opened at $21.96, with a market capitalization of approximately $2.89 billion and a 52-week range of $19.75 to $27.42. The stock recently traded 1.8% higher.
• EagleRock Land reported quarterly revenue of $46.79 million, up 74% year over year, but missed earnings expectations with a loss of $0.29 per share versus the consensus estimate of $0.27 earnings per share.

EagleRock Land, LLC (NYSE:EROK - Get Free Report) has been given an average rating of "Moderate Buy" by the ten analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $27.67.

A number of research firms have commented on EROK. The Goldman Sachs Group upped their price objective on shares of EagleRock Land from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Friday, August 21st. Weiss Ratings started coverage on shares of EagleRock Land in a research report on Friday, August 14th. They issued a "sell (e)" rating on the stock. Piper Sandler raised their target price on shares of EagleRock Land from $28.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 1st. Finally, Barclays raised their target price 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.

EagleRock Land Trading Up 1.8%

Shares of NYSE EROK opened at $21.96 on Friday. The stock's 50 day simple moving average is $23.88. The firm has a market capitalization of $2.89 billion and a P/E ratio of 23.36. EagleRock Land has a twelve month low of $19.75 and a twelve month high of $27.42.

EagleRock Land (NYSE:EROK - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.56). The company had revenue of $46.79 million during the quarter. The business's revenue for the quarter was up 74.0% compared to the same quarter last year. Equities analysts forecast that EagleRock Land will post 3.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EROK. Squarepoint Ops LLC bought a new stake in shares of EagleRock Land during the second quarter worth approximately $324,000. Readystate Asset Management LP bought a new position in shares of EagleRock Land during the second quarter worth approximately $425,000. HighTower Advisors LLC bought a new position in shares of EagleRock Land during the second quarter worth approximately $956,000. Caz Investments LP bought a new position in shares of EagleRock Land during the second quarter worth approximately $1,062,000. Finally, Alyeska Investment Group L.P. acquired a new stake in EagleRock Land during the 2nd quarter worth 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.