Archrock, Inc. (NYSE:AROC) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in Archrock, Inc. (NYSE:AROC) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 369,165 shares of the energy company’s stock after purchasing an additional 15,824 shares during the period. Exchange Traded Concepts LLC owned approximately 0.21% of Archrock worth $9,189,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP grew its stake 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 worth $30,976,000 after purchasing an additional 1,444,471 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of Archrock during the 3rd quarter worth approximately $22,108,000. Millennium Management LLC grew its holdings in shares of Archrock by 60.3% in the 2nd 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. State Street Corp increased its stake in Archrock by 11.5% in 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 in the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new position in Archrock during the third quarter worth $10,939,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AROC. Mizuho initiated coverage on Archrock in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target for the company. Royal Bank of Canada lifted their target price on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Finally, Citigroup assumed coverage on Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Price Performance

Shares of NYSE:AROC opened at $29.76 on Friday. The company has a market cap of $5.21 billion, a P/E ratio of 32.70, a P/E/G ratio of 1.81 and a beta of 1.58. The business has a fifty day simple moving average of $26.07 and a 200-day simple moving average of $22.52. Archrock, Inc. has a 52 week low of $15.65 and a 52 week high of $30.44. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. During the same quarter in the prior year, the company posted $0.20 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts forecast that Archrock, Inc. will post 1.12 EPS for the current year.

Archrock Profile

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.