Archrock Inc (AROC) Stake Decreased by Russell Investments Group Ltd.
Russell Investments Group Ltd. cut its holdings in shares of Archrock Inc (NYSE:AROC) by 51.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,313 shares of the energy company’s stock after selling 150,900 shares during the period. Russell Investments Group Ltd. owned about 0.20% of Archrock worth $1,786,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Pacad Investment Ltd. grew its stake in Archrock by 6.0% in the second quarter. Pacad Investment Ltd. now owns 8,900 shares of the energy company’s stock worth $101,000 after purchasing an additional 500 shares in the last quarter. Nine Chapters Capital Management LLC acquired a new position in Archrock in the third quarter worth about $161,000. Crossmark Global Holdings Inc. bought a new position in Archrock in the third quarter worth about $168,000. Piedmont Investment Advisors LLC bought a new position in Archrock in the second quarter worth about $175,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in Archrock by 4.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,650 shares of the energy company’s stock worth $190,000 after acquiring an additional 780 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.
AROC has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Archrock from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, October 3rd. BidaskClub cut shares of Archrock from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 11th. Royal Bank of Canada reissued a “buy” rating and issued a $13.00 target price on shares of Archrock in a report on Wednesday, September 27th. Scotiabank reissued a “hold” rating and issued a $14.00 target price on shares of Archrock in a report on Friday, November 3rd. Finally, ValuEngine raised shares of Archrock from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $13.29.
Shares of Archrock Inc (AROC) opened at $10.40 on Monday. The firm has a market capitalization of $745.66, a P/E ratio of -10.61 and a beta of 3.40. The company has a current ratio of 1.63, a quick ratio of 0.94 and a debt-to-equity ratio of 1.99. Archrock Inc has a twelve month low of $8.30 and a twelve month high of $16.40.
Archrock (NYSE:AROC) last released its quarterly earnings results on Thursday, November 2nd. The energy company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The business had revenue of $197.85 million for the quarter, compared to the consensus estimate of $202.34 million. Archrock had a negative net margin of 8.62% and a negative return on equity of 2.93%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.01 EPS. sell-side analysts forecast that Archrock Inc will post -0.23 EPS for the current year.
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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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