Fifth Third Bancorp Sells 47,711 Shares of Archrock, Inc. (NYSE:AROC)

Fifth Third Bancorp cut its holdings in shares of Archrock, Inc. (NYSE:AROC) by 29.7% in the 4th quarter, HoldingsChannel reports. The fund owned 112,942 shares of the energy company’s stock after selling 47,711 shares during the period. Fifth Third Bancorp’s holdings in Archrock were worth $2,811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in Archrock by 10.3% during the 2nd quarter. Bank of Montreal Can now owns 62,666 shares of the energy company’s stock valued at $1,267,000 after purchasing an additional 5,830 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Archrock by 969.9% during the second quarter. Squarepoint Ops LLC now owns 144,942 shares of the energy company’s stock valued at $2,931,000 after buying an additional 131,395 shares during the last quarter. AQR Capital Management LLC grew its holdings in Archrock by 209.7% during the second quarter. AQR Capital Management LLC now owns 273,057 shares of the energy company’s stock worth $5,521,000 after buying an additional 184,889 shares in the last quarter. Millennium Management LLC boosted its holdings in Archrock by 60.3% during the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after acquiring an additional 882,024 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Archrock by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,727 shares of the energy company’s stock worth $1,713,000 after acquiring an additional 6,489 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on AROC shares. Mizuho assumed coverage on shares of Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Finally, Royal Bank of Canada upped their price objective on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Price Performance

Archrock stock opened at $26.86 on Tuesday. The business’s 50 day simple moving average is $26.07 and its 200 day simple moving average is $22.55. Archrock, Inc. has a 12 month low of $15.65 and a 12 month high of $30.44. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 1.81 and a beta of 1.58. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last issued its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The firm had revenue of $292.16 million for the quarter, compared to analysts’ expectations of $286.19 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Sell-side analysts forecast that Archrock, Inc. will post 1.12 EPS for the current year.

About Archrock

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.