Citadel Advisors LLC Makes New Investment in EagleRock Land, LLC $EROK

Key Points

• Citadel Advisors initiated a position in EagleRock Land during the second quarter, purchasing 549,394 shares valued at approximately $11.7 million, or 0.42% of the company.
• Several other institutional investors also established new positions, while EagleRock Land’s shares traded near $25.82—within its $19.75–$27.42 52-week range.
• The company reported quarterly revenue of $46.79 million, up 74% year over year, but missed earnings expectations with a loss of $0.29 per share. Analysts maintain a “Moderate Buy” consensus and an average price target of $27.67.

Citadel Advisors LLC bought a new stake in EagleRock Land, LLC (NYSE:EROK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 549,394 shares of the company's stock, valued at approximately $11,675,000. Citadel Advisors LLC owned about 0.42% of EagleRock Land as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of EROK. Readystate Asset Management LP acquired a new position in shares of EagleRock Land during the 2nd quarter worth $425,000. HighTower Advisors LLC acquired a new stake in EagleRock Land in the 2nd quarter valued at about $956,000. Caz Investments LP acquired a new stake in EagleRock Land in the 2nd quarter valued at about $1,062,000. Finally, Alyeska Investment Group L.P. acquired a new stake in EagleRock Land in the 2nd quarter valued at about $1,169,000.

EagleRock Land Trading Down 0.1%

Shares of NYSE:EROK opened at $25.82 on Monday. EagleRock Land, LLC has a 52-week low of $19.75 and a 52-week high of $27.42. The firm has a fifty day moving average of $23.08.

EagleRock Land (NYSE:EROK - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.29) EPS 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 was up 74.0% on a year-over-year basis. On average, equities analysts anticipate that EagleRock Land, LLC will post 3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Pickering Energy Partners started coverage on shares of EagleRock Land in a research report on Monday, June 8th. They set an "outperform" rating for the company. The Goldman Sachs Group upped their price target 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. JPMorgan Chase & Co. began coverage on shares of EagleRock Land in a research report on Monday, June 8th. They issued an "overweight" rating and a $25.00 price target on the stock. Raymond James Financial initiated coverage on shares of EagleRock Land in a research note on Monday, June 8th. They set an "outperform" rating and a $25.00 price objective for the company. Finally, Weiss Ratings started coverage on EagleRock Land in a research report on Friday, August 14th. They set a "sell (e)" rating for the company. One equities research 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $27.67.

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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