Wells Fargo & Company MN boosted its holdings in shares of Archrock, Inc. (NYSE:AROC) by 91.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,381 shares of the energy company’s stock after acquiring an additional 73,389 shares during the quarter. Wells Fargo & Company MN owned 0.20% of Archrock worth $1,611,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of AROC. CIBC Asset Management Inc purchased a new position in Archrock during the 4th quarter valued at $106,000. Fox Run Management L.L.C. purchased a new position in Archrock during the 4th quarter valued at $180,000. Teacher Retirement System of Texas purchased a new position in Archrock during the 4th quarter valued at $228,000. Crossmark Global Holdings Inc. boosted its holdings in Archrock by 100.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 26,724 shares of the energy company’s stock valued at $281,000 after acquiring an additional 13,362 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Archrock during the 3rd quarter valued at $282,000. Institutional investors own 91.88% of the company’s stock.
AROC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Archrock from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, April 10th. Royal Bank of Canada restated a “buy” rating and set a $14.00 price objective on shares of Archrock in a report on Thursday, January 4th. B. Riley set a $12.00 target price on Archrock and gave the stock a “hold” rating in a report on Thursday, January 11th. Capital One Financial upgraded Archrock from an “equal weight” rating to an “overweight” rating in a report on Friday, February 23rd. Finally, Piper Jaffray upgraded Archrock from a “neutral” rating to an “overweight” rating in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.50.
Shares of AROC stock opened at $10.35 on Wednesday. Archrock, Inc. has a twelve month low of $8.25 and a twelve month high of $13.01. The firm has a market capitalization of $720.13, a price-to-earnings ratio of -51.75 and a beta of 2.92. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.69 and a quick ratio of 1.00.
Archrock (NYSE:AROC) last issued its earnings results 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. Archrock had a negative return on equity of 2.31% and a net margin of 2.39%. The business had revenue of $208.90 million during the quarter, compared to analysts’ expectations of $200.88 million. During the same period in the prior year, the business earned ($0.06) EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts forecast that Archrock, Inc. will post 0.19 EPS for the current year.
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Archrock Company Profile
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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