EagleRock Land, LLC (NYSE:EROK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of EagleRock Land, LLC (NYSE:EROK) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $26.8333.

Several research firms have recently commented on EROK. Texas Capital upgraded shares of EagleRock Land to a “strong-buy” rating in a research note on Monday, June 8th. Barclays boosted their price target 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. Pickering Energy Partners initiated coverage on shares of EagleRock Land in a research report on Monday, June 8th. They issued an “outperform” rating for the company. Stephens started coverage on EagleRock Land in a report on Monday, June 8th. They issued an “overweight” rating and a $28.00 price objective on the stock. Finally, Zacks Research raised EagleRock Land to a “hold” rating in a report on Tuesday, June 9th.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in EagleRock Land stock. Caz Investments LP acquired a new position in EagleRock Land, LLC (NYSE:EROK) in the 2nd quarter, according to the company in its most recent 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 1.1% of Caz Investments LP’s portfolio, making the stock its 12th biggest holding.

EagleRock Land Stock Up 1.6%

EROK opened at $26.57 on Friday. EagleRock Land has a 52 week low of $19.75 and a 52 week high of $27.42. The firm’s 50 day moving average is $22.14.

EagleRock Land (NYSE:EROK) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.56). The company had revenue of $46.79 million during the quarter. The company’s revenue for the quarter was up 74.0% compared to the same quarter last year. On average, equities research analysts expect that EagleRock Land will post 0.97 earnings per share for the current fiscal 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.