BlueMountain Capital Management LLC lifted its holdings in shares of Archrock Inc (NYSE:AROC) by 108.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,353 shares of the energy company’s stock after purchasing an additional 45,482 shares during the quarter. BlueMountain Capital Management LLC owned approximately 0.07% of Archrock worth $1,048,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in AROC. United Services Automobile Association grew its stake in Archrock by 74.3% in the 2nd quarter. United Services Automobile Association now owns 150,300 shares of the energy company’s stock valued at $1,804,000 after buying an additional 64,055 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in Archrock by 2.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 250,238 shares of the energy company’s stock valued at $3,003,000 after purchasing an additional 4,994 shares during the period. ING Groep NV bought a new stake in Archrock in the 2nd quarter valued at $366,000. Citadel Advisors LLC boosted its holdings in Archrock by 118.1% in the 2nd quarter. Citadel Advisors LLC now owns 530,852 shares of the energy company’s stock valued at $6,371,000 after purchasing an additional 287,450 shares during the period. Finally, Neuburgh Advisers LLC boosted its holdings in Archrock by 90.0% in the 2nd quarter. Neuburgh Advisers LLC now owns 16,808 shares of the energy company’s stock valued at $202,000 after purchasing an additional 7,964 shares during the period. Institutional investors own 88.90% of the company’s stock.
A number of brokerages have weighed in on AROC. Piper Jaffray Companies reissued a “buy” rating and issued a $14.75 price target on shares of Archrock in a report on Tuesday, August 7th. B. Riley increased their price target on shares of Archrock from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, August 6th. TheStreet raised shares of Archrock from a “d+” rating to a “c-” rating in a report on Wednesday, August 1st. Royal Bank of Canada reissued a “buy” rating and issued a $16.00 price target on shares of Archrock in a report on Friday, August 3rd. Finally, Zacks Investment Research raised shares of Archrock from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, July 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Archrock presently has an average rating of “Hold” and a consensus price target of $14.54.
In other Archrock news, CFO Doug S. Aron acquired 10,000 shares of Archrock stock in a transaction dated Friday, August 17th. The stock was bought at an average cost of $11.92 per share, with a total value of $119,200.00. Following the acquisition, the chief financial officer now owns 49,215 shares of the company’s stock, valued at $586,642.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.54% of the stock is currently owned by company insiders.
Shares of Archrock stock opened at $12.10 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 1.76. Archrock Inc has a fifty-two week low of $8.25 and a fifty-two week high of $13.75. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -60.50 and a beta of 2.83.
Archrock (NYSE:AROC) last issued its quarterly earnings results on Thursday, August 2nd. The energy company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Archrock had a net margin of 4.19% and a return on equity of 0.45%. The firm had revenue of $226.87 million during the quarter, compared to the consensus estimate of $216.63 million. equities research analysts expect that Archrock Inc will post 0.3 earnings per share for the current fiscal year.
Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.
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