Russell Investments Group Ltd. acquired a new stake in Archrock Inc (NYSE:AROC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 182,811 shares of the company’s stock, valued at approximately $2,441,000.
Several other hedge funds have also recently made changes to their positions in AROC. JPMorgan Chase & Co. raised its stake in shares of Archrock by 50.7% in the third quarter. JPMorgan Chase & Co. now owns 1,453,011 shares of the company’s stock valued at $19,005,000 after buying an additional 489,098 shares during the last quarter. Gotham Asset Management LLC raised its stake in shares of Archrock by 122.7% in the third quarter. Gotham Asset Management LLC now owns 841,935 shares of the company’s stock valued at $11,013,000 after buying an additional 463,820 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Archrock by 75.9% in the third quarter. Ameriprise Financial Inc. now owns 675,283 shares of the company’s stock valued at $8,833,000 after buying an additional 291,287 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Archrock by 5.7% in the third quarter. BlackRock Fund Advisors now owns 5,120,956 shares of the company’s stock valued at $66,982,000 after buying an additional 277,756 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Archrock during the third quarter valued at $1,691,000. 89.93% of the stock is currently owned by institutional investors.
Shares of Archrock Inc (NYSE:AROC) opened at 12.70 on Tuesday. Archrock Inc has a 52 week low of $5.60 and a 52 week high of $16.40. The firm’s market cap is $895.83 million. The company has a 50-day moving average price of $14.21 and a 200 day moving average price of $13.24.
Archrock (NYSE:AROC) last issued its quarterly earnings results on Thursday, February 23rd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.03. Archrock had a negative net margin of 17.11% and a negative return on equity of 1.48%. The company had revenue of $152 million for the quarter, compared to analyst estimates of $156.60 million. During the same period last year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was down 19.7% on a year-over-year basis. Analysts expect that Archrock Inc will post ($0.08) EPS for the current fiscal year.
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Several analysts have recently weighed in on AROC shares. JPMorgan Chase & Co. started coverage on Archrock in a report on Friday, January 6th. They set a “neutral” rating and a $13.00 price objective on the stock. Scotiabank set a $16.00 price objective on Archrock and gave the stock a “hold” rating in a report on Friday, February 24th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $12.09.
In related news, SVP Donald Wayne sold 3,647 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $13.21, for a total transaction of $48,176.87. Following the completion of the transaction, the senior vice president now directly owns 143,556 shares of the company’s stock, valued at $1,896,374.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David S. Miller sold 3,265 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $13.23, for a total value of $43,195.95. Following the transaction, the chief financial officer now directly owns 123,971 shares of the company’s stock, valued at $1,640,136.33. The disclosure for this sale can be found here. Insiders have sold 26,694 shares of company stock valued at $353,076 over the last three months. Insiders own 2.60% of the company’s stock.
Archrock Company Profile
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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