According to Zacks, “Archrock, Inc. is a provider of natural gas contract compression services as well as supplier of aftermarket services of compression equipment. The company operates in the oil and gas producing regions primarily in the United States. Archrock, Inc., formerly known as Exterran Holdings, Inc., is based in Houston, United States. “
A number of other brokerages have also recently issued reports on AROC. Goldman Sachs Group Inc. raised Archrock to a buy rating in a report on Tuesday, June 21st. Howard Weil cut Archrock from a sector outperform rating to a sector perform rating and increased their target price for the stock from $9.00 to $10.00 in a report on Wednesday, June 22nd. Scotiabank cut Archrock from an outperform rating to a sector perform rating and raised their price target for the company from $9.00 to $10.00 in a report on Wednesday, June 22nd. Raymond James Financial Inc. raised Archrock to an outperform rating in a report on Wednesday, June 22nd. Finally, FBR & Co started coverage on Archrock in a report on Thursday, July 14th. They set a market perform rating and a $11.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $11.64.
Shares of Archrock (NYSE:AROC) opened at 13.28 on Wednesday. Archrock has a one year low of $3.41 and a one year high of $24.05. The stock has a 50 day moving average price of $11.84 and a 200 day moving average price of $9.42. The firm’s market cap is $909.35 million.
Several hedge funds and other institutional investors have recently bought and sold shares of AROC. Harvest Fund Advisors LLC bought a new position in Archrock during the second quarter valued at about $14,732,000. HITE Hedge Asset Management LLC bought a new position in Archrock during the second quarter valued at about $12,561,000. Jacobs Levy Equity Management Inc. bought a new position in Archrock during the first quarter valued at about $4,616,000. Spark Investment Management LLC raised its position in Archrock by 318.1% in the first quarter. Spark Investment Management LLC now owns 719,600 shares of the company’s stock valued at $5,756,000 after buying an additional 547,503 shares in the last quarter. Finally, State Street Corp raised its position in Archrock by 37.1% in the second quarter. State Street Corp now owns 2,015,094 shares of the company’s stock valued at $18,986,000 after buying an additional 545,449 shares in the last quarter. Institutional investors and hedge funds own 88.18% of the company’s stock.
Archrock, Inc, formerly Exterran Holdings, 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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