EagleRock Land, LLC (NYSE:EROK – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Tuesday after Weiss Ratings downgraded the stock from a sell (e) rating to a sell (e-) rating. The stock traded as low as $16.99 and last traded at $17.41, with a volume of 209,277 shares changing hands. The stock had previously closed at $17.57.
A number of other brokerages have also weighed in on EROK. Piper Sandler reduced their price objective on EagleRock Land from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays increased their target price on EagleRock Land from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group increased their target price on EagleRock Land from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. cut their price target on EagleRock Land from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.
Read Our Latest Stock Report on EagleRock Land
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Islay Capital Management LLC raised its holdings in EagleRock Land by 62.7% during the third quarter. Islay Capital Management LLC now owns 12,200 shares of the company’s stock worth $254,000 after buying an additional 4,700 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of EagleRock Land in the second quarter valued at $324,000. Readystate Asset Management LP bought a new position in shares of EagleRock Land in the second quarter valued at $425,000. HighTower Advisors LLC bought a new position in shares of EagleRock Land in the second quarter valued at $956,000. Finally, Caz Investments LP bought a new position in shares of EagleRock Land in the second quarter valued at $1,062,000.
EagleRock Land Trading Up 5.1%
The company’s fifty day moving average price is $23.30.
EagleRock Land (NYSE:EROK – Get Free Report) last issued 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 firm had revenue of $46.79 million during the quarter. The firm’s revenue was up 74.0% compared to the same quarter last year. As a group, equities research analysts expect that EagleRock Land, LLC will post 3.18 EPS for the current fiscal year.
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.
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