Royce & Associates LP lowered its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 8.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 404,801 shares of the energy company's stock after selling 38,150 shares during the period. Royce & Associates LP owned approximately 0.24% of Archrock worth $8,193,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in Archrock in the first quarter worth about $43,000. Janney Montgomery Scott LLC lifted its holdings in shares of Archrock by 9.0% in the first quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company's stock worth $257,000 after buying an additional 1,079 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Archrock during the 1st quarter valued at about $133,000. Russell Investments Group Ltd. boosted its stake in Archrock by 70.6% during the first quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company's stock valued at $117,000 after buying an additional 2,461 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Archrock by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 28,001 shares of the energy company's stock valued at $551,000 after acquiring an additional 1,930 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Archrock in a report on Friday, September 6th. They issued an "overweight" rating and a $24.00 target price on the stock. Evercore ISI began coverage on Archrock in a research report on Wednesday, September 25th. They set an "outperform" rating and a $24.00 target price on the stock. Citigroup initiated coverage on shares of Archrock in a research note on Friday, September 27th. They set a "buy" rating and a $24.00 price objective for the company. Stifel Nicolaus increased their target price on shares of Archrock from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price target on shares of Archrock from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Thursday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Archrock currently has a consensus rating of "Moderate Buy" and an average target price of $24.67.
View Our Latest Analysis on Archrock
Archrock Trading Up 3.2 %
Archrock stock traded up $0.74 during trading hours on Monday, hitting $23.96. The company had a trading volume of 1,102,024 shares, compared to its average volume of 1,424,590. The firm has a market cap of $4.20 billion, a P/E ratio of 26.33 and a beta of 1.52. The company has a 50-day moving average price of $20.92 and a two-hundred day moving average price of $20.35. Archrock, Inc. has a 1 year low of $13.95 and a 1 year high of $24.71. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 1.26.
Archrock (NYSE:AROC - Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $292.16 million for the quarter, compared to analysts' expectations of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. Archrock's revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 earnings per share. On average, sell-side analysts anticipate 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. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.92%. This is a boost from Archrock's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. Archrock's dividend payout ratio is presently 76.92%.
About Archrock
(
Free Report)
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.
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