EagleRock Land (NYSE:EROK) Stock Price Target Cut by Piper Sandler

EagleRock Land (NYSE:EROK) had its target price lowered by equities researchers at Piper Sandler from $31.00 to $29.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler‘s price target indicates a potential upside of 52.79% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of EagleRock Land from a “sell (e-)” rating to a “sell (e)” rating in a report on Tuesday. The Goldman Sachs Group increased their price objective on EagleRock Land from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Barclays raised their price objective on EagleRock Land from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of EagleRock Land from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. One research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, EagleRock Land currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.33.

EagleRock Land Price Performance

Shares of NYSE:EROK traded down $0.14 during trading on Thursday, reaching $18.98. The company had a trading volume of 128,673 shares, compared to its average volume of 254,780. EagleRock Land has a twelve month low of $16.99 and a twelve month high of $27.42. The business’s fifty day moving average is $21.94. The firm has a market cap of $2.50 billion and a price-to-earnings ratio of 20.19.

EagleRock Land (NYSE:EROK) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The business had revenue of $43.35 million during the quarter. On average, research analysts forecast that EagleRock Land will post 1.57 EPS for the current year.

Institutional Investors Weigh In On EagleRock Land

A number of hedge funds have recently added to or reduced their stakes in EROK. Schwartz Investment Counsel Inc. raised its stake in shares of EagleRock Land by 18.8% in the third quarter. Schwartz Investment Counsel Inc. now owns 579,996 shares of the company’s stock worth $12,064,000 after acquiring an additional 91,881 shares during the last quarter. Islay Capital Management LLC grew its stake in shares of EagleRock Land by 62.7% during the third quarter. Islay Capital Management LLC now owns 12,200 shares of the company’s stock valued at $254,000 after purchasing an additional 4,700 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of EagleRock Land in the second quarter valued at approximately $324,000. Citadel Advisors LLC acquired a new stake in shares of EagleRock Land in the second quarter valued at approximately $11,675,000. Finally, HighTower Advisors LLC acquired a new stake in shares of EagleRock Land in the second quarter valued at approximately $956,000.

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.