Goldman Sachs Group Inc. trimmed its position in Archrock, Inc. (NYSE:AROC) by 30.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 528,838 shares of the energy company’s stock after selling 230,719 shares during the period. Goldman Sachs Group Inc. owned about 0.69% of Archrock worth $5,553,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc purchased a new position in Archrock in the 4th quarter valued at about $106,000. Amalgamated Bank purchased a new position in Archrock in the 4th quarter valued at about $106,000. BlueCrest Capital Management Ltd purchased a new position in Archrock in the 4th quarter valued at about $109,000. Trexquant Investment LP purchased a new position in Archrock in the 3rd quarter valued at about $131,000. Finally, Virtu Financial LLC purchased a new position in Archrock in the 4th quarter valued at about $111,000. Institutional investors own 91.83% of the company’s stock.
A number of research analysts have issued reports on AROC shares. Royal Bank of Canada restated a “buy” rating and issued a $14.00 target price on shares of Archrock in a report on Thursday, January 4th. B. Riley set a $12.00 target price on shares of Archrock and gave the company a “hold” rating in a report on Thursday, January 11th. Piper Jaffray upgraded shares of Archrock from a “neutral” rating to an “overweight” rating in a report on Friday, January 26th. Capital One Financial upgraded shares of Archrock from an “equal weight” rating to an “overweight” rating in a report on Friday, February 23rd. Finally, Zacks Investment Research upgraded shares of Archrock from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $12.79.
Archrock (NYSE:AROC) last announced its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The business had revenue of $208.90 million for the quarter, compared to analyst estimates of $200.88 million. Archrock had a net margin of 2.39% and a negative return on equity of 2.31%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. analysts forecast that Archrock, Inc. will post 0.19 earnings per share for the current fiscal year.
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Archrock, Inc engages in the provision of operations, maintenance, service, and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services segments. The Contract Operations segment is comprised of equity investment in the partnership, in addition to the owned fleet of natural gas compression equipment that the company use to provide operations services.
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