Spark Investment Management LLC lowered its stake in shares of Archrock, Inc. (NYSE:AROC) by 87.5% during the second quarter, Holdings Channel reports. The institutional investor owned 65,800 shares of the energy company’s stock after selling 459,400 shares during the period. Spark Investment Management LLC’s holdings in Archrock were worth $750,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC increased its position in Archrock by 696.1% in the second quarter. Harbour Capital Advisors LLC now owns 11,400 shares of the energy company’s stock valued at $1,000,000 after buying an additional 9,968 shares in the last quarter. Virginia Retirement Systems ET AL increased its position 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 valued at $152,000 after buying an additional 1,731 shares in the last quarter. State of Alaska Department of Revenue increased its position in Archrock by 79.8% in the second quarter. State of Alaska Department of Revenue now owns 14,008 shares of the energy company’s stock valued at $159,000 after buying an additional 6,218 shares in the last quarter. Mason Street Advisors LLC increased its position in Archrock by 8.4% in the first quarter. Mason Street Advisors LLC now owns 16,494 shares of the energy company’s stock valued at $205,000 after buying an additional 1,279 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in Archrock by 4.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,650 shares of the energy company’s stock valued at $190,000 after buying an additional 780 shares in the last quarter. 88.53% of the stock is currently owned by hedge funds and other institutional investors.

Archrock, Inc. (NYSE:AROC) opened at 9.35 on Friday. The company’s market cap is $663.28 million. Archrock, Inc. has a 12 month low of $9.10 and a 12 month high of $16.40. The firm has a 50-day moving average price of $10.96 and a 200 day moving average price of $12.17.

Archrock (NYSE:AROC) last posted its earnings results on Tuesday, August 1st. The energy company reported ($0.03) earnings per share (EPS) for the quarter, topping the 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 for the quarter was up 4.2% on a year-over-year basis. Equities research analysts predict that Archrock, Inc. will post ($0.20) EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 4th. This represents a $0.48 annualized dividend and a yield of 5.13%.

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Several research firms have recently weighed in on AROC. Scotiabank set a $16.00 target price on Archrock and gave the company a “hold” rating in a research report on Saturday, May 6th. ValuEngine downgraded Archrock from a “hold” rating to a “sell” rating in a research report on Saturday. FBR & Co reissued a “market perform” rating and set a $12.00 target price (up previously from $11.00) on shares of Archrock in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Archrock from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. Finally, BidaskClub downgraded Archrock from a “hold” rating to a “sell” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Archrock presently has a consensus rating of “Hold” and an average target price of $13.29.

About Archrock

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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Institutional Ownership by Quarter for Archrock (NYSE:AROC)

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