Archrock, Inc. (NYSE:AROC) Shares Purchased by Citigroup Inc.

Citigroup Inc. increased its stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 59.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 447,160 shares of the energy company's stock after purchasing an additional 166,947 shares during the quarter. Citigroup Inc. owned approximately 0.26% of Archrock worth $9,051,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Eagle Asset Management Inc. purchased a new stake in shares of Archrock during the third quarter valued at $22,108,000. Charles Schwab Investment Management Inc. raised its position in shares of Archrock by 13.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company's stock worth $47,034,000 after acquiring an additional 274,763 shares during the period. Intech Investment Management LLC boosted its position in Archrock by 58.7% during the third quarter. Intech Investment Management LLC now owns 59,401 shares of the energy company's stock worth $1,202,000 after purchasing an additional 21,980 shares in the last quarter. King Luther Capital Management Corp purchased a new position in shares of Archrock during the 3rd quarter valued at approximately $3,363,000. Finally, Moran Wealth Management LLC increased its stake in shares of Archrock by 45.9% during the third quarter. Moran Wealth Management LLC now owns 24,039 shares of the energy company's stock worth $487,000 after purchasing an additional 7,565 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

Archrock Stock Performance

AROC traded up $0.70 during trading on Friday, hitting $25.62. The stock had a trading volume of 927,225 shares, compared to its average volume of 1,419,098. Archrock, Inc. has a twelve month low of $14.14 and a twelve month high of $26.36. The firm has a market capitalization of $4.49 billion, a P/E ratio of 28.15 and a beta of 1.52. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The company's 50-day moving average price is $22.00 and its 200 day moving average price is $20.69.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings results 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. 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 analysts' expectations of $286.19 million. During the same period in the prior year, the company posted $0.20 earnings per share. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Wednesday, November 6th were paid a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is an increase from Archrock's previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.73%. Archrock's payout ratio is 76.92%.

Analysts Set New Price Targets

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

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.