Archrock Inc (AROC) Position Boosted by New York State Teachers Retirement System
New York State Teachers Retirement System increased its stake in shares of Archrock Inc (NYSE:AROC) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,802 shares of the company’s stock after buying an additional 6,700 shares during the period. New York State Teachers Retirement System’s holdings in Archrock were worth $1,898,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in AROC. JPMorgan Chase & Co. increased its stake in shares of Archrock by 50.7% in the third quarter. JPMorgan Chase & Co. now owns 1,453,011 shares of the company’s stock valued at $19,005,000 after buying an additional 489,098 shares in the last quarter. Gotham Asset Management LLC increased its stake in shares of Archrock by 122.7% in the third quarter. Gotham Asset Management LLC now owns 841,935 shares of the company’s stock valued at $11,013,000 after buying an additional 463,820 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Archrock by 75.9% in the third quarter. Ameriprise Financial Inc. now owns 675,283 shares of the company’s stock valued at $8,833,000 after buying an additional 291,287 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Archrock by 5.7% in the third quarter. BlackRock Fund Advisors now owns 5,120,956 shares of the company’s stock valued at $66,982,000 after buying an additional 277,756 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Archrock during the fourth quarter valued at about $2,441,000. 89.93% of the stock is owned by institutional investors.
Archrock Inc (NYSE:AROC) opened at 12.70 on Tuesday. Archrock Inc has a 52-week low of $5.60 and a 52-week high of $16.40. The firm’s 50-day moving average price is $14.21 and its 200 day moving average price is $13.24. The company’s market cap is $895.83 million.
Archrock (NYSE:AROC) last released its quarterly earnings data on Thursday, February 23rd. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.03. The firm had revenue of $152 million for the quarter, compared to the consensus estimate of $156.60 million. Archrock had a negative net margin of 17.11% and a negative return on equity of 1.48%. The company’s revenue was down 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. On average, equities analysts predict that Archrock Inc will post ($0.08) EPS for the current fiscal year.
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AROC has been the subject of several research reports. Scotiabank downgraded Archrock to a “hold” rating in a report on Thursday, December 15th. JPMorgan Chase & Co. initiated coverage on Archrock in a report on Friday, January 6th. They set a “neutral” rating and a $13.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Archrock currently has a consensus rating of “Hold” and an average target price of $12.09.
In related news, insider D Bradley Childers sold 18,488 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $13.23, for a total transaction of $244,596.24. Following the completion of the sale, the insider now owns 647,986 shares in the company, valued at $8,572,854.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David S. Miller sold 3,265 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $13.23, for a total value of $43,195.95. Following the sale, the chief financial officer now owns 123,971 shares of the company’s stock, valued at approximately $1,640,136.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,694 shares of company stock valued at $353,076. Corporate insiders own 2.60% of the company’s stock.
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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