Ballentine Partners LLC acquired a new stake in Archrock, Inc. (NYSE:AROC – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,558 shares of the energy company’s stock, valued at approximately $238,000.
A number of other hedge funds have also made changes to their positions in AROC. State Street Corp increased its position in shares of Archrock by 11.5% during the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after purchasing an additional 707,379 shares during the period. Geode Capital Management LLC grew its holdings in Archrock by 16.0% during the third quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock worth $76,826,000 after acquiring an additional 523,825 shares during the period. Millennium Management LLC grew its holdings in Archrock by 60.3% during the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after acquiring an additional 882,024 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Archrock by 13.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock valued at $47,034,000 after acquiring an additional 274,763 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its position in shares of Archrock by 1,680.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock valued at $30,976,000 after purchasing an additional 1,444,471 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.
Archrock Trading Up 0.5 %
Archrock stock opened at $29.76 on Friday. The company has a 50 day moving average price of $26.07 and a 200 day moving average price of $22.54. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. Archrock, Inc. has a 52 week low of $15.65 and a 52 week high of $30.44. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 32.70, a P/E/G ratio of 1.81 and a beta of 1.58.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the stock. Mizuho initiated coverage on shares of Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 target price on the stock. Royal Bank of Canada upped their price target on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised their price objective on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.17.
Check Out Our Latest Research Report on Archrock
About Archrock
Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.
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