Russell Investments Group Ltd. Takes Position in Archrock Inc (AROC)
Russell Investments Group Ltd. purchased a new position in Archrock Inc (NYSE:AROC) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 182,811 shares of the company’s stock, valued at approximately $2,441,000. Russell Investments Group Ltd. owned about 0.27% of Archrock as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in Archrock during the third quarter valued at about $170,000. Brandes Investment Partners LP bought a new stake in Archrock during the third quarter valued at about $182,000. Weiss Asset Management LP bought a new stake in Archrock during the third quarter valued at about $198,000. Municipal Employees Retirement System of Michigan boosted its stake in Archrock by 2.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,440 shares of the company’s stock valued at $202,000 after buying an additional 340 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Archrock by 4,814.9% in the third quarter. PNC Financial Services Group Inc. now owns 16,858 shares of the company’s stock valued at $221,000 after buying an additional 16,515 shares during the period. 89.93% of the stock is owned by hedge funds and other institutional investors.
Shares of Archrock Inc (NYSE:AROC) opened at 12.70 on Tuesday. The stock has a 50 day moving average of $14.21 and a 200 day moving average of $13.24. The stock’s market cap is $895.83 million. Archrock Inc has a 12 month low of $5.60 and a 12 month high of $16.40.
Archrock (NYSE:AROC) last issued its quarterly earnings data on Thursday, February 23rd. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ 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 earned $152 million during the quarter, compared to the consensus estimate of $156.60 million. During the same period in the previous year, the business posted $0.08 earnings per share. The firm’s revenue was down 19.7% on a year-over-year basis. On average, equities analysts anticipate that Archrock Inc will post ($0.08) earnings per share for the current fiscal year.
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Several research firms have issued reports on AROC. Scotiabank set a $16.00 price objective on shares of Archrock and gave the company a “hold” rating in a research report on Friday, February 24th. JPMorgan Chase & Co. began coverage on shares of Archrock in a research report on Friday, January 6th. They issued a “neutral” rating and a $13.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Archrock has a consensus rating of “Hold” and an average target price of $12.09.
In other Archrock news, CFO David S. Miller sold 3,265 shares of Archrock stock in a transaction that occurred on Tuesday, March 7th. The stock was 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 approximately $1,640,136.33. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider D Bradley Childers sold 18,488 shares of Archrock stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $13.23, for a total value of $244,596.24. Following the completion of the transaction, the insider now directly owns 647,986 shares in the company, valued at $8,572,854.78. The disclosure for this sale can be found here. Insiders sold a total of 26,694 shares of company stock worth $353,076 over the last three months. 2.60% of the stock is owned by company insiders.
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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