EagleRock Land (NYSE:EROK) Price Target Raised to $28.00 at The Goldman Sachs Group

Key Points

• Goldman Sachs raised EagleRock Land’s price target to $28 from $24 while maintaining a “neutral” rating, implying 3.9% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $26.83; Stephens and Piper Sandler also set $28 targets with “overweight” ratings.
• 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 forecasted $0.27 profit.

EagleRock Land (NYSE:EROK - Get Free Report) had its target price hoisted by equities researchers at The Goldman Sachs Group from $24.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 3.90% from the company's previous close.

A number of other brokerages also recently issued reports on EROK. Stephens started coverage on EagleRock Land in a research report on Monday, June 8th. They set an "overweight" rating and a $28.00 price target for the company. Piper Sandler started coverage on shares of EagleRock Land in a research note on Monday, June 8th. They issued an "overweight" rating and a $28.00 target price on the stock. Wall Street Zen upgraded shares of EagleRock Land to a "hold" rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. initiated coverage on shares of EagleRock Land in a research note on Monday, June 8th. They issued an "overweight" rating and a $25.00 price target for the company. Finally, Zacks Research upgraded shares of EagleRock Land to a "hold" rating in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.83.

EagleRock Land Stock Performance

Shares of EagleRock Land stock traded up $0.79 during trading on Friday, hitting $26.95. The stock had a trading volume of 77,109 shares, compared to its average volume of 279,695. EagleRock Land has a 12 month low of $19.75 and a 12 month high of $27.42. The company's 50-day moving average price is $22.03.

EagleRock Land (NYSE:EROK - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.29) earnings per share (EPS) 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 business's quarterly revenue was up 74.0% compared to the same quarter last year. Sell-side analysts predict that EagleRock Land will post 1.2 earnings per share for the current year.

Institutional Investors Weigh In On EagleRock Land

An institutional investor recently bought a new position in EagleRock Land stock. Alyeska Investment Group L.P. acquired a new stake in shares of EagleRock Land, LLC (NYSE:EROK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 55,000 shares of the company's stock, valued at approximately $1,169,000.

EagleRock Land Company Profile

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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