Archrock, Inc. (AROC) Shares Bought by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan grew its holdings in Archrock, Inc. (NYSE:AROC) by 59.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 26,630 shares of the energy company’s stock after buying an additional 9,980 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Archrock were worth $334,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its stake in shares of Archrock by 71.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 39,544 shares of the energy company’s stock valued at $496,000 after purchasing an additional 16,462 shares during the period. Nine Chapters Capital Management LLC purchased a new position in shares of Archrock in the 3rd quarter valued at approximately $161,000. Adams Diversified Equity Fund Inc. purchased a new position in shares of Archrock in the 3rd quarter valued at approximately $830,000. Crossmark Global Holdings Inc. purchased a new position in shares of Archrock in the 3rd quarter valued at approximately $168,000. Finally, Aperio Group LLC purchased a new position in shares of Archrock in the 3rd quarter valued at approximately $195,000. Institutional investors and hedge funds own 90.25% of the company’s stock.
A number of research analysts have recently commented on AROC shares. Royal Bank Of Canada upgraded Archrock from a “sector perform” rating to an “outperform” rating and set a $13.00 target price for the company in a research note on Monday, August 21st. BidaskClub upgraded Archrock from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research upgraded Archrock from a “sell” rating to a “hold” rating in a research note on Monday, September 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $13.29.
Archrock (NYSE:AROC) last announced its quarterly earnings data on Thursday, November 2nd. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The company had revenue of $197.85 million for the quarter, compared to analysts’ expectations of $202.34 million. Archrock had a negative net margin of 8.62% and a negative return on equity of 2.93%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS. equities research analysts predict that Archrock, Inc. will post -0.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Tuesday, November 7th. Archrock’s payout ratio is -48.98%.
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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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