EagleRock Land (EROK)
Monetizes Permian land through water, surface-access and pore-space agreements.
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Monetizes Permian Basin land through commercial water and construction resources, surface-use agreements and produced-water or pore-space royalties. Customers and operating partners carry most operating and capital work, while revenue depends on their development activity, leased land rights and regulated water infrastructure.
Monetizes Permian Basin surface land through commercial water, caliche and topsoil sales; surface-use agreements for drilling sites, roads, pipelines, transmission easements and rights-of-way; and royalties on produced-water and pore-space services. Its portfolio spans acreage in New Mexico's Delaware Basin and ranch land in Texas's Midland Basin, supported by water infrastructure operated by partners.
Earns revenue by negotiating access, lease, easement and resource terms with energy operators while customers or partners undertake most operating and capital work. It does not own oil-and-gas minerals, tying its economics to surface rights, contracts, partner-operated water systems and customer development activity. Much of the Delaware acreage is controlled through state and federal leases, and environmental permits govern disposal and injection uses.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 1, 2026 | Piper Sandler | Reiterate | Rating: —Target: $28 | Target: $33 |
| Aug 21, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $24 | Target: $27 |
| Aug 12, 2026 | Barclays | Reiterate | Rating: —Target: $25 | Target: $27 |
| Jun 8, 2026 | Stephens | Target | Target: — | Target: $28 |
| Jun 8, 2026 | Raymond James | Target | Target: — | Target: $25 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $61.8M · Total debt $1.5M · Total assets $1.80B · Shareholders' equity $327.8M
- Revenue
- $41.5M
- Operating income
- −$53.2M
- Net income
- −$7.6M
No dividends on record.
| Institutions | 13.18% | 17.34M shares | |
|---|---|---|---|
| 74 holders · as of Jun 30, 2026 | |||
| Insiders | 1.14% | 1.50M shares | |
| 8 holders · as of Sep 14, 2026 | |||
| Strategic holders | 3.47% | 4.56M shares | |
| 1 holder · as of May 19, 2026 | |||
| Other | 82.21% | 108.12M shares | |
| remainder | |||
131.52M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (131.52M in the company's Sep 22, 2026 report, 108.66M elsewhere); stakes use the report.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
The TCW Group, Inc., on behalf of the TCW Business UnitStrategic | 3.47% | 4.56M | filed May 19, 2026 |
First Manhattan Co. LLC.Institution | 2.48% | 3.26M A | as of Jun 30, 2026 |
Price T Rowe Associates Inc /MD/Institution | 1.55% | 2.03M A | as of Jun 30, 2026 |
Encompass Capital Advisors LLCInstitution | 1.41% | 1.86M A | as of Jun 30, 2026 |
Horizon Kinetics Asset Management LLCInstitution | 1.28% | 1.68M A | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- LandBridge
Closest rival in Permian surface access, resource monetization and siting.
- Texas Pacific Land
Large Permian land-and-water platform spanning leases, water and royalties.
- WaterBridge Infrastructure
Major Delaware Basin rival in produced-water handling and recycling.
- Western Midstream Partners
Integrated Delaware Basin rival in produced-water logistics and recycling.
- Select Water Solutions
Permian rival in water supply, recycling, disposal and pipeline service.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| EagleRock Land | $23.31 | −1.31% | $2.57B | — | 28.9 | — | — |
| LandBridge | $86.12 | −1.63% | $6.74B | — | 38.5 | — | +40.5% |
| Texas Pacific Land | $361.05 | −1.57% | $25.30B | 46.8 | 35.8 | 28.2 | +31.2% |
| WaterBridge Infrastructure | $30.31 | +1.27% | $1.41B | 66.9 | 50.5 | 1.9 | +10.7% |
| Western Midstream Partners | $46.89 | +0.65% | $19.25B | 14.6 | 12.2 | 4.4 | +30.0% |
| Select Water Solutions | $20.56 | −0.19% | $2.26B | 76.6 | 30.1 | 1.6 | +8.7% |
| Median | 56.8 | 35.8 | 3.2 | +30.0% |