Viking Fund Management Lowers stake in Archrock Inc (AROC)

Archrock Inc (AROC) : Viking Fund Management reduced its stake in Archrock Inc by 27.91% during the most recent quarter end. The investment management company now holds a total of 620,000 shares of Archrock Inc which is valued at $7,805,800 after selling 240,000 shares in Archrock Inc , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Archrock Inc makes up approximately 1.26% of Viking Fund Management’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in AROC by selling 4,370 shares or 27.85% in the most recent quarter. The Hedge Fund company now holds 11,321 shares of AROC which is valued at $142,531.Legal General Group Plc boosted its stake in AROC in the latest quarter, The investment management firm added 47,308 additional shares and now holds a total of 62,070 shares of Archrock Inc which is valued at $811,255.Cutler Group Lp reduced its stake in AROC by selling 400 shares or 5.65% in the most recent quarter. The Hedge Fund company now holds 6,678 shares of AROC which is valued at $88,684. Archrock Inc makes up approx 0.01% of Cutler Group Lp’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in AROC by selling 12,461 shares or 51.53% in the most recent quarter. The Hedge Fund company now holds 11,722 shares of AROC which is valued at $153,675.

On the company’s financial health, Archrock Inc reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $-0.18. The company had revenue of $241.30 million for the quarter, compared to analysts expectations of $240.00 million. The company’s revenue was down -8.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on Archrock Inc. Archrock Inc was Initiated by Piper Jaffray to “Neutral” on Aug 22, 2016. Archrock Inc was Upgraded by Johnson Rice to ” Accumulate” on Aug 5, 2016. Company shares were Upgraded by RBC Capital Mkts on Aug 5, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 10 from a previous price target of $4 .

Archrock Inc. formerly Exterran Holdings Inc. is engaged in providing natural gas contract compression services to customers in the oil and natural gas industry throughout the United States. The Company also provides aftermarket services to customers that own compression equipment in the United States. It focuses on Natural Gas Contract Compression Service and Aftermarket Parts and Service. Its Compression Services offers inventory of compressor packages ready for deployment and comprehensive fleet with the technology from an aggressive and continuous new build program among others. Its services include Compression Services Aftermarket Services and Used Equipment. Its Aftermarket Services maintains ready inventories of critical engine compression and gas compressor package parts located throughout the United States. Its used equipment include AJAX Arrow/Ariel Caterpillar/Ariel Caterpillar/GE Gemini Rotary Screw and Waukesha.

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