Alyeska Investment Group L.P. Buys New Holdings in EagleRock Land, LLC $EROK

Key Points

• Alyeska Investment Group initiated a 55,000-share position in EagleRock Land during the second quarter, valued at approximately $1.17 million. Caz Investments LP also opened a position worth about $1.06 million.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $27.67. Recent coverage included “outperform” and “overweight” ratings, though Goldman Sachs maintained a “neutral” view.
• 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 expected $0.27 profit. The stock opened at $25.14, compared with a 52-week range of $19.75 to $27.42.

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

Separately, Caz Investments LP bought a new position in shares of EagleRock Land in the second quarter valued at $1,062,000.

Analyst Ratings Changes

EROK has been the subject of a number of recent research reports. Pickering Energy Partners assumed coverage on EagleRock Land in a report on Monday, June 8th. They set an "outperform" rating for the company. The Goldman Sachs Group lifted their price objective 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. initiated coverage on shares of EagleRock Land in a research note on Monday, June 8th. They issued an "overweight" rating and a $25.00 target price for the company. Wall Street Zen raised shares of EagleRock Land to a "hold" rating in a research report on Saturday, May 23rd. Finally, Raymond James Financial assumed coverage on shares of EagleRock Land in a research note on Monday, June 8th. They issued an "outperform" rating and a $25.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.67.

EagleRock Land Price Performance

NYSE EROK opened at $25.14 on Wednesday. EagleRock Land, LLC has a 52-week low of $19.75 and a 52-week high of $27.42. The stock's 50-day moving average is $22.77.

EagleRock Land (NYSE:EROK - Get Free Report) last released 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 business had revenue of $46.79 million for the quarter. EagleRock Land's revenue was up 74.0% on a year-over-year basis. On average, equities research analysts anticipate that EagleRock Land, LLC will post 0.97 EPS for the current 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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