Kayne Anderson Capital Advisors LP Buys 1,444,471 Shares of Archrock, Inc. (NYSE:AROC)

Kayne Anderson Capital Advisors LP increased its holdings in Archrock, Inc. (NYSE:AROC - Free Report) by 1,680.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,530,440 shares of the energy company's stock after acquiring an additional 1,444,471 shares during the period. Archrock comprises approximately 0.8% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 22nd biggest holding. Kayne Anderson Capital Advisors LP owned about 0.91% of Archrock worth $30,976,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AROC. Thrivent Financial for Lutherans grew its position in shares of Archrock by 41.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 746,320 shares of the energy company's stock valued at $15,106,000 after acquiring an additional 218,048 shares during the period. Mutual of America Capital Management LLC lifted its stake in Archrock by 12.4% in the third quarter. Mutual of America Capital Management LLC now owns 25,408 shares of the energy company's stock valued at $514,000 after purchasing an additional 2,802 shares during the last quarter. Natixis Advisors LLC grew its holdings in Archrock by 14.4% during the third quarter. Natixis Advisors LLC now owns 714,651 shares of the energy company's stock valued at $14,465,000 after purchasing an additional 89,951 shares during the period. Empowered Funds LLC increased its position in Archrock by 5.9% in the third quarter. Empowered Funds LLC now owns 69,349 shares of the energy company's stock worth $1,404,000 after buying an additional 3,871 shares during the last quarter. Finally, KBC Group NV increased its position in Archrock by 23.6% in the third quarter. KBC Group NV now owns 5,324 shares of the energy company's stock worth $108,000 after buying an additional 1,016 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Price Performance

NYSE:AROC traded up $0.75 during mid-day trading on Monday, hitting $23.97. 1,194,465 shares of the stock traded hands, compared to its average volume of 1,424,590. The business's 50-day moving average price is $20.92 and its 200 day moving average price is $20.35. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market cap of $4.20 billion, a PE ratio of 26.33 and a beta of 1.52. Archrock, Inc. has a 12-month low of $13.95 and a 12-month high of $24.71.

Archrock (NYSE:AROC - Get Free Report) last released 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 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 analyst estimates of $286.19 million. During the same period in the previous year, the business earned $0.20 EPS. The business's revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts expect that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders 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 dividend yield of 2.92%. 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 (DPR) is 76.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AROC. Citigroup started coverage on Archrock in a research report on Friday, September 27th. They set a "buy" rating and a $24.00 price target on the stock. Stifel Nicolaus increased their target price on shares of Archrock from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Mizuho started coverage on shares of Archrock in a research note on Wednesday, October 2nd. They issued an "outperform" rating and a $24.00 target price for the company. Royal Bank of Canada upped their price target on shares of Archrock from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Evercore ISI began coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an "outperform" 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.67.

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.