Citadel Advisors LLC Purchases Shares of 549,394 EagleRock Land, LLC $EROK

Citadel Advisors LLC purchased a new position in shares of EagleRock Land, LLC (NYSE:EROK) during the second quarter, HoldingsChannel reports. The institutional investor purchased 549,394 shares of the company’s stock, valued at approximately $11,675,000.

Several other hedge funds have also made changes to their positions in EROK. Caz Investments LP purchased a new stake in shares of EagleRock Land in the second quarter valued at $1,062,000. Alyeska Investment Group L.P. purchased a new position in EagleRock Land during the second quarter worth about $1,169,000. Readystate Asset Management LP purchased a new position in EagleRock Land during the second quarter worth about $425,000. Finally, HighTower Advisors LLC purchased a new position in EagleRock Land during the second quarter worth about $956,000.

Analyst Upgrades and Downgrades

Several analysts have commented on EROK shares. JPMorgan Chase & Co. started coverage on EagleRock Land in a report on Monday, June 8th. They issued an “overweight” rating and a $25.00 price target for the company. Barclays increased their price objective on shares of EagleRock Land from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Pickering Energy Partners initiated coverage on shares of EagleRock Land in a research report on Monday, June 8th. They issued an “outperform” rating on the stock. The Goldman Sachs Group raised their target price on shares of EagleRock Land from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Finally, Raymond James Financial started coverage on shares of EagleRock Land in a report on Monday, June 8th. They issued an “outperform” rating and a $25.00 target price for the company. One investment 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 issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

EagleRock Land Stock Performance

Shares of EROK opened at $25.82 on Monday. EagleRock Land, LLC has a twelve month low of $19.75 and a twelve month high of $27.42. The business has a fifty day moving average price of $23.08.

EagleRock Land (NYSE:EROK) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.56). The business had revenue of $46.79 million during the quarter. The business’s revenue was up 74.0% compared to the same quarter last year. Equities research analysts expect that EagleRock Land, LLC will post 3.18 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.