State Street Corp Reduces Position in Archrock, Inc. (AROC)

State Street Corp lessened its stake in Archrock, Inc. (NYSE:AROC) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,210,410 shares of the energy company’s stock after selling 33,340 shares during the period. State Street Corp owned about 3.12% of Archrock worth $25,202,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pacad Investment Ltd. grew its stake in shares of Archrock by 6.0% in the second quarter. Pacad Investment Ltd. now owns 8,900 shares of the energy company’s stock worth $101,000 after acquiring an additional 500 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Archrock by 696.1% in the second quarter. Harbour Capital Advisors LLC now owns 11,400 shares of the energy company’s stock worth $1,000,000 after acquiring an additional 9,968 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of 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 worth $159,000 after acquiring an additional 6,218 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of 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 worth $190,000 after acquiring an additional 780 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of 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 acquiring an additional 10,077 shares in the last quarter. Hedge funds and other institutional investors own 90.90% of the company’s stock.

Several equities analysts have commented on the stock. BidaskClub upgraded shares of Archrock from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada upgraded shares of Archrock from a “sector perform” rating to an “outperform” rating and set a $13.00 price target for the company in a research note on Monday, August 21st. Scotiabank reaffirmed a “hold” rating and set a $14.00 price objective on shares of Archrock in a research report on Friday, November 3rd. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $12.00 price objective (down from $13.00) on shares of Archrock in a research report on Tuesday, August 8th. Finally, Zacks Investment Research cut shares of Archrock from a “hold” rating to a “strong sell” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $13.29.

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Shares of Archrock, Inc. (AROC) opened at $10.05 on Tuesday. Archrock, Inc. has a 1 year low of $8.30 and a 1 year high of $16.40. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.94 and a current ratio of 1.63.

Archrock (NYSE:AROC) last released its quarterly earnings data on Thursday, November 2nd. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). The firm had revenue of $197.85 million for the quarter, compared to analysts’ expectations of $202.34 million. Archrock had a negative return on equity of 2.93% and a negative net margin of 8.62%. Archrock’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. research analysts expect that Archrock, Inc. will post -0.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th will be given a $0.12 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $0.48 dividend on an annualized basis and a yield of 4.78%. Archrock’s dividend payout ratio (DPR) is presently -48.98%.

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.

Institutional Ownership by Quarter for Archrock (NYSE:AROC)

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