Smith Asset Management Group LP bought a new stake in shares of Archrock Inc. (NYSE:AROC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 48,340 shares of the company’s stock, valued at approximately $455,000.
Other hedge funds have also recently modified their holdings of the company. Acrospire Investment Management LLC bought a new stake in Archrock during the first quarter worth approximately $109,000. Huntington Asset Advisors Inc. bought a new stake in Archrock during the first quarter worth approximately $120,000. Squarepoint Ops LLC bought a new stake in Archrock during the first quarter worth approximately $179,000. BNP Paribas Arbitrage SA increased its stake in Archrock by 98.7% in the second quarter. BNP Paribas Arbitrage SA now owns 24,183 shares of the company’s stock worth $228,000 after buying an additional 12,014 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Archrock during the second quarter worth approximately $247,000. 88.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of Archrock Inc. (NYSE:AROC) traded up 1.45% during trading on Monday, reaching $11.86. 449,740 shares of the company traded hands. The firm’s market capitalization is $812.11 million. Archrock Inc. has a 12 month low of $3.41 and a 12 month high of $24.17. The firm has a 50-day moving average price of $11.43 and a 200-day moving average price of $8.98.
AROC has been the topic of several recent research reports. Piper Jaffray Cos. initiated coverage on shares of Archrock in a report on Monday, August 22nd. They issued a “neutral” rating on the stock. Howard Weil downgraded shares of Archrock from a “sector outperform” rating to a “sector perform” rating and upped their price target for the company from $9.00 to $10.00 in a report on Wednesday, June 22nd. RBC Capital Markets raised shares of Archrock from an “underperform” rating to a “sector perform” rating and upped their price target for the company from $4.00 to $10.00 in a report on Friday, August 5th. FBR & Co set a $11.00 price target on shares of Archrock and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Scotiabank downgraded shares of Archrock from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $9.00 to $10.00 in a report on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $11.22.
Archrock, Inc, formerly Exterran Holdings, 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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