Wells Fargo & Company MN Boosts Position in Archrock, Inc. (NYSE:AROC)
Wells Fargo & Company MN increased its stake in Archrock, Inc. (NYSE:AROC) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,374 shares of the energy company’s stock after buying an additional 99 shares during the period. Wells Fargo & Company MN owned 0.07% of Archrock worth $636,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Tudor Investment Corp Et Al boosted its stake in Archrock by 38.7% in the fourth quarter. Tudor Investment Corp Et Al now owns 19,921 shares of the energy company’s stock worth $263,000 after buying an additional 5,562 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Archrock by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 28,700 shares of the energy company’s stock worth $356,000 after buying an additional 700 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Archrock by 40.7% in the first quarter. Bank of Montreal Can now owns 43,378 shares of the energy company’s stock worth $539,000 after buying an additional 12,552 shares in the last quarter. Strs Ohio boosted its stake in shares of Archrock by 4.3% in the first quarter. Strs Ohio now owns 65,300 shares of the energy company’s stock worth $809,000 after buying an additional 2,700 shares in the last quarter. Finally, Comerica Bank raised its position in Archrock by 5.7% in the fourth quarter. Comerica Bank now owns 74,193 shares of the energy company’s stock worth $1,139,000 after buying an additional 4,023 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.
Archrock, Inc. (NYSE AROC) traded down 1.72% during midday trading on Friday, hitting $10.30. The stock had a trading volume of 311,387 shares. The stock’s market cap is $730.67 million. The company’s 50 day moving average price is $11.10 and its 200-day moving average price is $12.39. Archrock, Inc. has a 52-week low of $8.52 and a 52-week high of $16.40.
Archrock (NYSE:AROC) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.08. The business had revenue of $198 million for the quarter, compared to analysts’ expectations of $196 million. Archrock had a negative return on equity of 3.44% and a negative net margin of 8.57%. Archrock’s revenue was up 4.2% on a year-over-year basis. Analysts forecast that Archrock, Inc. will post ($0.29) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Friday, August 4th.
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A number of research analysts have weighed in on AROC shares. Zacks Investment Research raised Archrock from a “sell” rating to a “buy” rating and set a $13.00 target price for the company in a report on Thursday, May 25th. BidaskClub raised Archrock from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Capital One Financial Corporation downgraded Archrock from an “overweight” rating to an “equal weight” rating in a research report on Friday, June 23rd. Royal Bank Of Canada restated a “hold” rating and issued a $13.00 target price on shares of Archrock in a research report on Monday, May 15th. Finally, Scotiabank set a $16.00 price objective on Archrock and gave the company a “hold” rating in a research report on Saturday, May 6th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.46.
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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