Caz Investments LP Invests $1.06 Million in EagleRock Land, LLC $EROK

Key Points

• Caz Investments LP acquired 50,000 shares of EagleRock Land in the second quarter, valued at approximately $1.06 million; Readystate Asset Management also initiated a roughly $425,000 position.
• Analysts remain generally bullish, with a consensus rating of “Moderate Buy” and an average price target of $27.67. Piper Sandler recently raised its target to $33.
• 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.

Caz Investments LP acquired a new stake in EagleRock Land, LLC (NYSE:EROK - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company's stock, valued at approximately $1,062,000. EagleRock Land makes up 0.2% of Caz Investments LP's portfolio, making the stock its 22nd biggest position.

Separately, Readystate Asset Management LP purchased a new stake in EagleRock Land during the 2nd quarter worth about $425,000.

Analyst Ratings Changes

Several brokerages recently weighed in on EROK. Pickering Energy Partners initiated coverage on shares of EagleRock Land in a research note on Monday, June 8th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. started coverage on shares of EagleRock Land in a report on Monday, June 8th. They set an "overweight" rating and a $25.00 price target for the company. Stephens assumed coverage on shares of EagleRock Land in a research report on Monday, June 8th. They issued an "overweight" rating and a $28.00 price objective for the company. Barclays upped their price objective on shares of EagleRock Land from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Finally, 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 report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.67.

EagleRock Land Price Performance

NYSE EROK opened at $25.82 on Monday. EagleRock Land, LLC has a 12 month low of $19.75 and a 12 month high of $27.42. The company's 50-day moving average is $23.08.

EagleRock Land (NYSE:EROK - Get Free Report) last released its earnings results 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 for the quarter. EagleRock Land's revenue for the quarter was up 74.0% compared to the same quarter last year. On average, analysts expect that EagleRock Land, LLC will post 3.18 earnings per share for the current fiscal year.

EagleRock Land 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.

Want to see what other hedge funds are holding EROK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EagleRock Land, LLC (NYSE:EROK - Free Report).

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.