Fifth Third Bancorp Has $2.81 Million Holdings in Archrock, Inc. (NYSE:AROC)

Fifth Third Bancorp decreased its position in shares of Archrock, Inc. (NYSE:AROC) by 29.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,942 shares of the energy company’s stock after selling 47,711 shares during the quarter. Fifth Third Bancorp owned approximately 0.06% of Archrock worth $2,811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AROC. Bank of Montreal Can boosted its stake in shares of Archrock by 10.3% during the second 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 in the last quarter. Squarepoint Ops LLC raised its holdings in Archrock by 969.9% in the 2nd 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 boosted its position in Archrock by 209.7% during the 2nd 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 during the period. Millennium Management LLC grew 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 increased its position in Archrock by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,727 shares of the energy company’s stock valued at $1,713,000 after acquiring an additional 6,489 shares during the period. Institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Royal Bank of Canada increased their price target on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Mizuho assumed coverage on Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.17.

Archrock Stock Performance

Shares of AROC stock opened at $26.86 on Tuesday. The firm has a 50 day moving average of $26.07 and a 200-day moving average of $22.55. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 1.81 and a beta of 1.58. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 52 week low of $15.65 and a 52 week high of $30.44.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The firm had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. On average, equities analysts forecast that Archrock, Inc. will post 1.12 earnings per share for the current year.

Archrock Profile

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.