AQR Capital Management LLC Increases Position in Archrock, Inc. (AROC)
AQR Capital Management LLC increased its position in shares of Archrock, Inc. (NYSE:AROC) by 44.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 783,630 shares of the energy company’s stock after buying an additional 242,259 shares during the period. AQR Capital Management LLC owned about 1.10% of Archrock worth $9,717,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in AROC. New York State Teachers Retirement System increased its stake in Archrock by 4.9% in the fourth quarter. New York State Teachers Retirement System now owns 143,802 shares of the energy company’s stock valued at $1,898,000 after buying an additional 6,700 shares in the last quarter. Teachers Advisors LLC increased its stake in Archrock by 42.1% in the fourth quarter. Teachers Advisors LLC now owns 188,483 shares of the energy company’s stock valued at $2,488,000 after buying an additional 55,881 shares in the last quarter. Martingale Asset Management L P acquired a new stake in Archrock during the first quarter valued at about $1,282,000. Comerica Bank increased its stake in Archrock by 5.7% in the fourth quarter. Comerica Bank now owns 74,193 shares of the energy company’s stock valued at $1,139,000 after buying an additional 4,023 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Archrock during the fourth quarter valued at about $2,441,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.
Archrock, Inc. (NYSE AROC) traded up 0.95% on Thursday, hitting $10.60. 733,942 shares of the stock were exchanged. Archrock, Inc. has a one year low of $8.52 and a one year high of $16.40. The company’s market cap is $751.95 million. The company’s 50 day moving average price is $11.10 and its 200-day moving average price is $12.39.
Archrock (NYSE:AROC) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.08. Archrock had a negative return on equity of 3.41% and a negative net margin of 8.57%. The company had revenue of $198 million during the quarter, compared to analysts’ expectations of $196 million. Archrock’s revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that Archrock, Inc. will post ($0.29) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.53%.
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Several research firms have issued reports on AROC. Scotiabank set a $15.00 price objective on shares of Archrock and gave the stock a “hold” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Archrock from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub upgraded shares of Archrock from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Capital One Financial Corporation cut shares of Archrock from an “overweight” rating to an “equal weight” rating in a research report on Friday, June 23rd. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $13.00 target price on shares of Archrock in a research report on Monday, May 15th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Archrock currently has a consensus rating of “Hold” and a consensus price target of $13.29.
Archrock Company Profile
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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