Archrock Inc (NYSE:AROC) shares rose 6.8% on Tuesday . The company traded as high as $3.90 and last traded at $3.62, approximately 1,145,386 shares changed hands during mid-day trading. A decline of 3% from the average daily volume of 1,185,535 shares. The stock had previously closed at $3.39.
AROC has been the subject of a number of recent analyst reports. ValuEngine lowered shares of Archrock from a “sell” rating to a “strong sell” rating in a research report on Monday, March 9th. B. Riley dropped their price target on shares of Archrock from $13.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Finally, Zacks Investment Research upgraded shares of Archrock from a “sell” rating to a “hold” rating in a research report on Friday, March 13th.
The firm’s fifty day moving average price is $6.37 and its 200 day moving average price is $8.71. The company has a quick ratio of 1.14, a current ratio of 1.67 and a debt-to-equity ratio of 1.71. The stock has a market cap of $518.23 million, a PE ratio of 5.21 and a beta of 2.64.
In other Archrock news, CEO D Bradley Childers purchased 13,160 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of $7.60 per share, with a total value of $100,016.00. Following the completion of the purchase, the chief executive officer now directly owns 1,408,357 shares in the company, valued at $10,703,513.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Doug S. Aron purchased 13,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average cost of $7.61 per share, for a total transaction of $98,930.00. Following the purchase, the chief financial officer now owns 203,199 shares of the company’s stock, valued at $1,546,344.39. The disclosure for this purchase can be found here. Insiders bought 206,132 shares of company stock worth $863,960 in the last three months. Insiders own 16.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Archrock by 7.8% during the fourth quarter. State Street Corp now owns 4,339,793 shares of the energy company’s stock valued at $43,572,000 after purchasing an additional 313,116 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Archrock by 14.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,430,689 shares of the energy company’s stock valued at $24,404,000 after purchasing an additional 311,927 shares in the last quarter. Norges Bank purchased a new stake in Archrock during the fourth quarter valued at $21,746,000. Charles Schwab Investment Management Inc. raised its stake in Archrock by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,505,816 shares of the energy company’s stock valued at $15,119,000 after purchasing an additional 41,896 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Archrock by 20.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,432,306 shares of the energy company’s stock valued at $14,380,000 after purchasing an additional 244,439 shares in the last quarter. 77.32% of the stock is currently owned by institutional investors.
Archrock Company Profile (NYSE:AROC)
Archrock, Inc engages in the provision of operations, maintenance, service, and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services segments. The Contract Operations segment is comprised of equity investment in the partnership, in addition to the owned fleet of natural gas compression equipment that the company use to provide operations services.
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