Caz Investments LP Takes Position in EagleRock Land, LLC $EROK

Caz Investments LP purchased a new stake in EagleRock Land, LLC (NYSE:EROK) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 50,000 shares of the company’s stock, valued at approximately $1,062,000. EagleRock Land comprises about 1.1% of Caz Investments LP’s portfolio, making the stock its 12th largest holding.

EagleRock Land Stock Down 1.0%

Shares of NYSE EROK opened at $24.50 on Friday. EagleRock Land, LLC has a 1 year low of $19.75 and a 1 year high of $27.42. The stock has a 50-day moving average price of $22.60.

EagleRock Land (NYSE:EROK) last released its earnings results on Tuesday, August 11th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.56). The firm 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. On average, sell-side analysts predict that EagleRock Land, LLC will post 0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler assumed coverage on EagleRock Land in a research note on Monday, June 8th. They issued an “overweight” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. started coverage on EagleRock Land in a report on Monday, June 8th. They set an “overweight” rating and a $25.00 price target on the stock. Texas Capital upgraded EagleRock Land to a “strong-buy” rating in a research report on Monday, June 8th. Barclays lifted their price objective on shares of EagleRock Land from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Finally, Stephens initiated coverage on shares of EagleRock Land in a research report on Monday, June 8th. They set an “overweight” rating and a $28.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.83.

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.