Credit Suisse AG lowered its position in shares of Archrock, Inc. (NYSE:AROC) by 24.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,314 shares of the energy company’s stock after selling 28,117 shares during the period. Credit Suisse AG owned about 0.12% of Archrock worth $1,058,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of AROC. Virginia Retirement Systems ET AL boosted its stake in Archrock by 16.5% in the first quarter. Virginia Retirement Systems ET AL now owns 12,231 shares of the energy company’s stock worth $152,000 after buying an additional 1,731 shares during the last quarter. Mason Street Advisors LLC boosted its stake in Archrock by 8.4% in the first quarter. Mason Street Advisors LLC now owns 16,494 shares of the energy company’s stock worth $205,000 after buying an additional 1,279 shares during the last quarter. UBS Group AG boosted its stake in Archrock by 101.3% in the first quarter. UBS Group AG now owns 20,020 shares of the energy company’s stock worth $248,000 after buying an additional 10,077 shares during the last quarter. Alambic Investment Management L.P. purchased a new stake in Archrock during the first quarter worth about $293,000. Finally, Louisiana State Employees Retirement System boosted its stake in 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 and hedge funds own 90.15% of the company’s stock.
Shares of Archrock, Inc. (NYSE:AROC) traded down 4.144% during mid-day trading on Monday, hitting $8.675. The company’s stock had a trading volume of 527,644 shares. The company has a 50-day moving average price of $10.70 and a 200-day moving average price of $11.97. The stock’s market cap is $615.40 million. Archrock, Inc. has a 1-year low of $8.65 and a 1-year 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 for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. The company had revenue of $198 million during 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%. The company’s revenue was up 4.2% compared to the same quarter last year. Analysts predict that Archrock, Inc. will post ($0.20) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 8th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend was Friday, August 4th.
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A number of analysts recently issued reports on AROC shares. Zacks Investment Research cut Archrock from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Royal Bank Of Canada reissued a “hold” rating and set a $13.00 price objective on shares of Archrock in a research report on Friday, May 5th. Scotiabank set a $16.00 price objective on Archrock and gave the company a “hold” rating in a research report on Saturday, May 6th. Capital One Financial Corporation cut Archrock from an “overweight” rating to an “equal weight” rating in a research report on Friday, June 23rd. Finally, BidaskClub raised Archrock from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average 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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