Comerica Bank boosted its stake in shares of Archrock Inc (NYSE:AROC) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,193 shares of the company’s stock after buying an additional 4,023 shares during the period. Comerica Bank’s holdings in Archrock were worth $1,139,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in Archrock during the fourth quarter worth about $2,441,000. Highbridge Capital Management LLC bought a new stake in Archrock during the third quarter worth about $1,691,000. Gotham Asset Management LLC boosted its stake in Archrock by 122.7% in the third quarter. Gotham Asset Management LLC now owns 841,935 shares of the company’s stock worth $11,013,000 after buying an additional 463,820 shares in the last quarter. SECOR Capital Advisors LP boosted its stake in Archrock by 286.9% in the third quarter. SECOR Capital Advisors LP now owns 94,143 shares of the company’s stock worth $1,231,000 after buying an additional 69,808 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in Archrock during the third quarter worth about $198,000. 89.93% of the stock is owned by hedge funds and other institutional investors.
Shares of Archrock Inc (NYSE:AROC) opened at 12.10 on Friday. Archrock Inc has a 1-year low of $5.60 and a 1-year high of $16.40. The company has a 50-day moving average of $13.88 and a 200-day moving average of $13.27. The firm’s market cap is $853.51 million.
Archrock (NYSE:AROC) last posted its quarterly earnings data on Thursday, February 23rd. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.03. The firm earned $152 million during the quarter, compared to analyst estimates of $156.60 million. Archrock had a negative net margin of 17.11% and a negative return on equity of 1.48%. Archrock’s revenue was down 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 earnings per share. Analysts predict that Archrock Inc will post ($0.08) earnings per share for the current fiscal year.
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A number of equities research analysts recently issued reports on AROC shares. Scotiabank cut shares of Archrock to a “hold” rating in a research note on Thursday, December 15th. JPMorgan Chase & Co. started coverage on shares of Archrock in a research note on Friday, January 6th. They issued a “neutral” rating and a $13.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Archrock presently has an average rating of “Hold” and a consensus target price of $12.09.
In other news, insider D Bradley Childers sold 18,488 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $13.23, for a total transaction of $244,596.24. Following the completion of the sale, the insider now owns 647,986 shares in the company, valued at $8,572,854.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David S. Miller sold 3,265 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $13.23, for a total value of $43,195.95. Following the sale, the chief financial officer now owns 123,971 shares of the company’s stock, valued at approximately $1,640,136.33. The disclosure for this sale can be found here. Insiders sold 26,694 shares of company stock valued at $353,076 over the last three months. Corporate insiders own 2.60% of the company’s stock.
Archrock, Inc is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
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