Prudential Financial Inc. cut its position in shares of Archrock Inc. (NYSE:AROC) by 9.8% during the second quarter, Holdings Channel reports. The fund owned 620,010 shares of the company’s stock after selling 67,600 shares during the period. Prudential Financial Inc. owned 0.91% of Archrock worth $5,840,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new stake in Archrock during the first quarter valued at about $109,000. Huntington Asset Advisors Inc. bought a new stake in Archrock during the first quarter valued at about $120,000. Quantitative Investment Management LLC bought a new stake in Archrock during the second quarter valued at about $164,000. Princeton Alpha Management LP bought a new stake in Archrock during the second quarter valued at about $177,000. Finally, BNP Paribas Arbitrage SA raised its stake in Archrock by 98.7% in the second quarter. BNP Paribas Arbitrage SA now owns 24,183 shares of the company’s stock valued at $228,000 after buying an additional 12,014 shares in the last quarter. Institutional investors and hedge funds own 88.18% of the company’s stock.
Archrock Inc. (NYSE:AROC) opened at 13.07 on Wednesday. The firm has a 50 day moving average of $11.88 and a 200-day moving average of $9.45. Archrock Inc. has a 52 week low of $3.41 and a 52 week high of $24.05. The company’s market capitalization is $894.97 million.
AROC has been the topic of several research analyst reports. Johnson Rice upgraded shares of Archrock from a “hold” rating to an “accumulate” rating in a research report on Friday, August 5th. Goldman Sachs Group Inc. upgraded shares of Archrock to a “buy” rating in a research report on Tuesday, June 21st. Zacks Investment Research upgraded shares of Archrock from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, October 3rd. FBR & Co set a $11.00 price target on shares of Archrock and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, Simmons began coverage on shares of Archrock in a research report on Monday, August 22nd. They set a “neutral” rating and a $12.25 target price on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Archrock presently has an average rating of “Hold” and an average target price of $11.64.
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.