Charles Schwab Investment Management Inc. Raises Stock Holdings in Archrock, Inc. (NYSE:AROC)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 13.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,323,820 shares of the energy company's stock after purchasing an additional 274,763 shares during the period. Charles Schwab Investment Management Inc. owned about 1.38% of Archrock worth $47,034,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AROC. Wolff Wiese Magana LLC bought a new stake in Archrock in the 3rd quarter valued at about $30,000. Quarry LP purchased a new position in Archrock during the 2nd quarter valued at about $52,000. CWM LLC grew its holdings in Archrock by 382.0% during the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company's stock valued at $73,000 after buying an additional 2,846 shares in the last quarter. GAMMA Investing LLC grew its holdings in Archrock by 16.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company's stock valued at $82,000 after buying an additional 578 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Archrock during the 2nd quarter valued at about $101,000. 95.45% of the stock is currently owned by institutional investors.

Archrock Price Performance

NYSE:AROC traded down $0.23 during mid-day trading on Monday, reaching $25.39. The stock had a trading volume of 1,054,827 shares, compared to its average volume of 1,417,527. The firm has a 50 day moving average price of $22.09 and a two-hundred day moving average price of $20.73. The stock has a market capitalization of $4.45 billion, a P/E ratio of 27.90 and a beta of 1.52. Archrock, Inc. has a one year low of $14.14 and a one year high of $26.36. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26.

Archrock (NYSE:AROC - Get Free Report) last released its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The company had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. Archrock's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. As a group, analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, November 6th. This is an increase from Archrock's previous quarterly dividend of $0.17. Archrock's dividend payout ratio is currently 76.92%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Archrock from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lifted their target price on Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Friday. Mizuho assumed coverage on Archrock in a report on Wednesday, October 2nd. They set an "outperform" rating and a $24.00 target price for the company. Evercore ISI assumed coverage on Archrock in a report on Wednesday, September 25th. They set an "outperform" rating and a $24.00 price objective for the company. Finally, Citigroup assumed coverage on Archrock in a report on Friday, September 27th. They set a "buy" rating and a $24.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $25.17.

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.