Sterling Capital Management LLC Buys Shares of 80,813 Archrock, Inc. (AROC)
Sterling Capital Management LLC bought a new position in Archrock, Inc. (NYSE:AROC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 80,813 shares of the energy company’s stock, valued at approximately $1,014,000. Sterling Capital Management LLC owned about 0.11% of Archrock at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Neuberger Berman Group LLC increased its holdings in shares of Archrock by 44.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 26,606 shares of the energy company’s stock valued at $334,000 after acquiring an additional 8,140 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Archrock by 7.2% during the 3rd quarter. California Public Employees Retirement System now owns 197,953 shares of the energy company’s stock valued at $2,484,000 after acquiring an additional 13,371 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Archrock during the 3rd quarter valued at about $282,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Archrock by 3.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 681,323 shares of the energy company’s stock valued at $8,551,000 after acquiring an additional 25,749 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Archrock by 54.0% during the 3rd quarter. Wells Fargo & Company MN now owns 79,992 shares of the energy company’s stock valued at $1,004,000 after acquiring an additional 28,045 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. Zacks Investment Research raised Archrock from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, October 3rd. BidaskClub raised Archrock from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 28th. Royal Bank of Canada reissued a “buy” rating and set a $13.00 price objective on shares of Archrock in a report on Wednesday, September 27th. Scotiabank reissued a “hold” rating and set a $14.00 price objective on shares of Archrock in a report on Friday, November 3rd. Finally, B. Riley restated a “neutral” rating on shares of Archrock in a research note on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $13.29.
Archrock (NYSE:AROC) last announced its earnings results on Thursday, November 2nd. The energy company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Archrock had a negative net margin of 8.62% and a negative return on equity of 2.93%. The business had revenue of $197.85 million for the quarter, compared to the consensus estimate of $202.34 million. During the same quarter in the previous year, the company earned $0.01 EPS. Archrock’s revenue for the quarter was up 1.0% compared to the same quarter last year. equities research analysts anticipate that Archrock, Inc. will post -0.23 earnings per share for the current fiscal year.
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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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