Todays Report: The Strs Ohio cuts position of Archrock Inc. (AROC)

The Strs Ohio cuts position of Archrock Inc. (AROC)

Strs Ohio decreased its stake in shares of Archrock Inc. (NYSE:AROC) by 18.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 69,700 shares of the company’s stock after selling 15,900 shares during the period. Strs Ohio owned 0.10% of Archrock worth $911,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its position in shares of Archrock by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the company’s stock valued at $290,000 after buying an additional 100 shares during the period. Arizona State Retirement System boosted its position in shares of Archrock by 1.7% in the second quarter. Arizona State Retirement System now owns 36,181 shares of the company’s stock valued at $341,000 after buying an additional 600 shares during the period. Legal & General Group Plc boosted its position in shares of Archrock by 22.7% in the second quarter. Legal & General Group Plc now owns 14,762 shares of the company’s stock valued at $136,000 after buying an additional 2,733 shares during the period. Profund Advisors LLC boosted its position in shares of Archrock by 12.9% in the second quarter. Profund Advisors LLC now owns 29,242 shares of the company’s stock valued at $275,000 after buying an additional 3,332 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Archrock by 14.6% in the third quarter. Bank of Montreal Can now owns 30,044 shares of the company’s stock valued at $393,000 after buying an additional 3,832 shares during the period. Institutional investors and hedge funds own 88.17% of the company’s stock.

Archrock Inc. (NYSE:AROC) opened at 11.40 on Friday. The stock’s market cap is $780.61 million. Archrock Inc. has a 12-month low of $3.41 and a 12-month high of $24.02. The firm’s 50-day moving average price is $12.15 and its 200-day moving average price is $9.90.

AROC has been the subject of several research analyst reports. Johnson Rice raised Archrock from a “hold” rating to an “accumulate” rating in a research report on Friday, August 5th. FBR & Co set a $11.00 target price on Archrock and gave the company a “hold” rating in a research report on Friday, August 5th. Royal Bank Of Canada raised Archrock from an “underperform” rating to a “sector perform” rating and raised their target price for the company from $4.00 to $10.00 in a research report on Friday, August 5th. Piper Jaffray Cos. initiated coverage on Archrock in a research report on Monday, August 22nd. They set a “neutral” rating for the company. Finally, RBC Capital Markets raised Archrock from an “underperform” rating to a “sector perform” rating and raised their target price for the company from $4.00 to $10.00 in a research report on Friday, August 5th. 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 stock currently has an average rating of “Hold” and an average price target of $11.64.

About Archrock

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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