BNP Paribas Financial Markets lifted its position in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 30.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,096 shares of the energy company's stock after buying an additional 29,282 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of Archrock worth $2,512,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in shares of Archrock in the 3rd quarter valued at approximately $28,000. Wolff Wiese Magana LLC bought a new stake in Archrock in the third quarter valued at about $30,000. Quarry LP acquired a new stake in Archrock during the second quarter valued at approximately $52,000. CWM LLC grew its position in shares of Archrock by 382.0% in the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company's stock worth $73,000 after acquiring an additional 2,846 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Archrock by 16.6% in the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company's stock worth $82,000 after purchasing an additional 578 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.
Archrock Stock Down 2.9 %
Shares of NYSE AROC traded down $0.76 during mid-day trading on Friday, reaching $25.45. The company had a trading volume of 1,268,662 shares, compared to its average volume of 1,309,763. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 27.97 and a beta of 1.59. 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, Inc. has a 12-month low of $14.23 and a 12-month high of $26.36. The stock has a fifty day moving average of $22.51 and a two-hundred day moving average of $20.87.
Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business 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 for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS. As a group, equities research analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.
Archrock Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.75%. 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 presently 76.92%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on AROC shares. Citigroup assumed coverage on shares of Archrock in a research report on Friday, September 27th. They set a "buy" rating and a $24.00 price objective for the company. Evercore ISI assumed coverage on Archrock in a research note on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Archrock from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, November 29th. Royal Bank of Canada raised 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, November 14th. Finally, Mizuho assumed coverage on Archrock in a research report on Wednesday, October 2nd. They set 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 issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.17.
Read Our Latest Stock Analysis on AROC
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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