Trade Report: The BNP Paribas Arbitrage SA Reduces Stake in Archrock Inc. (AROC)

The BNP Paribas Arbitrage SA Reduces Stake in Archrock Inc. (AROC)

BNP Paribas Arbitrage SA decreased its position in Archrock Inc. (NYSE:AROC) by 51.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,722 shares of the company’s stock after selling 12,461 shares during the period. BNP Paribas Arbitrage SA’s holdings in Archrock were worth $153,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AROC. Smith Asset Management Group LP acquired a new position in Archrock during the second quarter worth $455,000. JPMorgan Chase & Co. raised its position in Archrock by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,163,724 shares of the company’s stock worth $9,310,000 after buying an additional 424,374 shares during the last quarter. Credit Agricole S A acquired a new position in Archrock during the first quarter worth $2,010,000. Contrarian Capital Management L.L.C. acquired a new position in Archrock during the first quarter worth $1,261,000. Finally, Prudential Financial Inc. raised its position in Archrock by 5.6% in the first quarter. Prudential Financial Inc. now owns 687,610 shares of the company’s stock worth $5,501,000 after buying an additional 36,700 shares during the last quarter. Hedge funds and other institutional investors own 88.18% of the company’s stock.

Shares of Archrock Inc. (NYSE:AROC) opened at 12.95 on Monday. The stock’s market capitalization is $886.75 million. The company’s 50-day moving average is $11.80 and its 200 day moving average is $9.34. Archrock Inc. has a 52 week low of $3.41 and a 52 week high of $24.12.

A number of equities analysts recently weighed in on the stock. 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. Simmons assumed coverage on shares of Archrock in a research report on Monday, August 22nd. They set a “neutral” rating and a $12.25 price target on the stock. Piper Jaffray Cos. assumed coverage on shares of Archrock in a research report on Monday, August 22nd. They set a “neutral” rating on the stock. FBR & Co assumed coverage on shares of Archrock in a research report on Thursday, July 14th. They set a “market perform” rating and a $11.00 price target on the stock. Finally, RBC Capital Markets upgraded shares of Archrock from an “underperform” rating to a “sector perform” rating and boosted their price target for the stock from $4.00 to $10.00 in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus 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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