EagleRock Land, LLC $EROK Stock Bought by Schwartz Investment Counsel Inc.

Key Points

• Schwartz Investment Counsel increased its EagleRock Land stake by 18.8% in the third quarter, acquiring 91,881 additional shares for a total of 579,996 shares valued at approximately $12.1 million.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $27.67, despite some target-price reductions.
• EROK opened at $19.39, below its 50-day average of $22.67. The company recently missed quarterly EPS expectations, although revenue increased 74% year over year to $46.79 million.

Schwartz Investment Counsel Inc. boosted its stake in shares of EagleRock Land, LLC (NYSE:EROK - Free Report) by 18.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 579,996 shares of the company's stock after acquiring an additional 91,881 shares during the period. Schwartz Investment Counsel Inc. owned 0.44% of EagleRock Land worth $12,064,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Citadel Advisors LLC bought a new position in shares of EagleRock Land during the 2nd quarter valued at about $11,675,000. Alyeska Investment Group L.P. purchased a new position in shares of EagleRock Land during the second quarter valued at about $1,169,000. Caz Investments LP purchased a new position in shares of EagleRock Land during the second quarter valued at about $1,062,000. HighTower Advisors LLC bought a new stake in shares of EagleRock Land in the second quarter worth about $956,000. Finally, Readystate Asset Management LP bought a new stake in shares of EagleRock Land in the second quarter worth about $425,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Piper Sandler decreased their target price on EagleRock Land from $33.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, October 19th. JPMorgan Chase & Co. dropped their price target on EagleRock Land from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Tuesday, October 13th. Barclays raised their price target on EagleRock Land from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. The Goldman Sachs Group raised their price target on EagleRock Land from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Friday, August 21st. Finally, Weiss Ratings downgraded EagleRock Land from a "sell (e)" rating to a "sell (e-)" rating in a research note on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.67.

EagleRock Land Price Performance

Shares of EROK opened at $19.39 on Wednesday. The company has a market capitalization of $2.55 billion and a PE ratio of 20.63. The stock has a fifty day simple moving average of $22.67. EagleRock Land, LLC has a fifty-two week low of $16.99 and a fifty-two week high of $27.42.

EagleRock Land (NYSE:EROK - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.56). The business had revenue of $46.79 million for the quarter. The business's quarterly revenue was up 74.0% on a year-over-year basis. Analysts anticipate that EagleRock Land, LLC will post 1.57 earnings per share 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.

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.