Emerald Acquisition Ltd. acquired a new position in Archrock Inc. (NYSE:AROC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 125,825 shares of the company’s stock, valued at approximately $1,186,000. Emerald Acquisition Ltd. owned 0.18% of Archrock at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Prudential Financial Inc. boosted its position in shares of Archrock by 5.6% in the first quarter. Prudential Financial Inc. now owns 687,610 shares of the company’s stock worth $5,501,000 after buying an additional 36,700 shares during the period. BlackRock Group LTD boosted its position in shares of Archrock by 12.8% in the first quarter. BlackRock Group LTD now owns 128,860 shares of the company’s stock worth $1,032,000 after buying an additional 14,623 shares during the period. BlackRock Fund Advisors boosted its position in shares of Archrock by 1.1% in the first quarter. BlackRock Fund Advisors now owns 4,762,718 shares of the company’s stock worth $38,102,000 after buying an additional 51,318 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Archrock by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,163,724 shares of the company’s stock worth $9,310,000 after buying an additional 424,374 shares during the period. Finally, Acrospire Investment Management LLC acquired a new position in shares of Archrock during the first quarter worth $109,000. 88.18% of the stock is owned by institutional investors and hedge funds.
Shares of Archrock Inc. (NYSE:AROC) traded down 1.37% during midday trading on Friday, hitting $12.95. 326,411 shares of the company were exchanged. Archrock Inc. has a one year low of $3.41 and a one year high of $24.12. The stock’s 50-day moving average is $11.80 and its 200-day moving average is $9.34. The stock’s market cap is $886.75 million.
A number of equities analysts have weighed in on AROC shares. Piper Jaffray Cos. started coverage on shares of Archrock in a report on Monday, August 22nd. They issued a “neutral” rating on the stock. Howard Weil lowered shares of Archrock from a “sector outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $9.00 to $10.00 in a report on Wednesday, June 22nd. RBC Capital Markets upgraded shares of Archrock from an “underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $4.00 to $10.00 in a report on Friday, August 5th. Zacks Investment Research lowered shares of Archrock from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, FBR & Co set a $11.00 price objective on shares of Archrock and gave the stock a “hold” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $11.64.
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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