HITE Hedge Asset Management LLC Takes Position in Archrock, Inc. (NYSE:AROC)

HITE Hedge Asset Management LLC purchased a new stake in Archrock, Inc. (NYSE:AROC - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 540,482 shares of the energy company's stock, valued at approximately $10,939,000. Archrock accounts for approximately 1.3% of HITE Hedge Asset Management LLC's holdings, making the stock its 29th largest holding. HITE Hedge Asset Management LLC owned approximately 0.31% of Archrock as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC increased its position in shares of Archrock by 16.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company's stock valued at $82,000 after purchasing an additional 578 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Archrock by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company's stock valued at $1,658,000 after buying an additional 710 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Archrock by 6.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company's stock worth $230,000 after buying an additional 713 shares during the last quarter. Atria Investments Inc boosted its position in shares of Archrock by 2.3% during the 3rd quarter. Atria Investments Inc now owns 32,648 shares of the energy company's stock worth $661,000 after acquiring an additional 746 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Archrock by 2.2% in the second quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company's stock valued at $713,000 after purchasing an additional 753 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AROC. Evercore ISI initiated coverage on shares of Archrock in a report on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Archrock from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday. Citigroup initiated coverage on Archrock in a report on Friday, September 27th. They issued a "buy" rating and a $24.00 price objective for the company. Mizuho assumed coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an "outperform" rating and a $24.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on Archrock from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.17.

Archrock Price Performance

Shares of NYSE AROC traded up $0.53 during midday trading on Tuesday, hitting $25.92. The company had a trading volume of 3,278,887 shares, compared to its average volume of 1,425,517. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 28.48 and a beta of 1.59. Archrock, Inc. has a twelve month low of $14.14 and a twelve month high of $26.36. The business has a 50-day simple moving average of $22.09 and a two-hundred day simple moving average of $20.73. 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 (NYSE:AROC - Get Free Report) last issued its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The company had revenue of $292.16 million during the quarter, compared to analysts' expectations of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share. Equities research analysts anticipate that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.70%. This is an increase from Archrock's previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. Archrock's payout ratio is presently 76.92%.

Archrock Company 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.