Archrock, Inc. (NYSE:AROC) Position Increased by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. raised its position in shares of Archrock, Inc. (NYSE:AROC) by 15.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 799,525 shares of the energy company’s stock after buying an additional 107,343 shares during the period. Schwab Charles Investment Management Inc. owned about 1.13% of Archrock worth $9,915,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. State Street Corp boosted its stake in shares of Archrock by 8.2% in the fourth quarter. State Street Corp now owns 2,160,468 shares of the energy company’s stock worth $28,518,000 after buying an additional 163,066 shares during the last quarter. Norges Bank purchased a new stake in shares of Archrock during the fourth quarter worth $17,843,000. Teachers Advisors LLC boosted its stake in shares of Archrock by 42.1% in the fourth quarter. Teachers Advisors LLC now owns 188,483 shares of the energy company’s stock worth $2,488,000 after buying an additional 55,881 shares during 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 during the last quarter. Finally, 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 during the last quarter. Institutional investors own 90.15% of the company’s stock.
Archrock, Inc. (AROC) traded down 1.63% on Friday, reaching $9.05. The company had a trading volume of 358,574 shares. Archrock, Inc. has a 12 month low of $8.90 and a 12 month high of $16.40. The stock’s market capitalization is $642.00 million. The firm has a 50-day moving average of $10.70 and a 200-day moving average of $11.97.
Archrock (NYSE:AROC) last released its quarterly earnings data on Tuesday, August 1st. The energy company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.08. Archrock had a negative return on equity of 3.44% and a negative net margin of 8.57%. The company had revenue of $198 million for the quarter, compared to analyst estimates of $196 million. Archrock’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that Archrock, Inc. will post ($0.20) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.48 annualized dividend and a dividend yield of 5.30%.
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AROC has been the subject of a number of research reports. Capital One Financial Corporation cut Archrock from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 23rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Archrock in a research note on Friday, April 21st. Zacks Investment Research cut Archrock from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Scotiabank set a $15.00 price objective on Archrock and gave the company a “hold” rating in a research note on Tuesday, June 20th. Finally, FBR & Co reissued a “market perform” rating and set a $12.00 target price (up from $11.00) on shares of Archrock in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price 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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