Eagle Asset Management Inc. Acquires Shares of 1,092,274 Archrock, Inc. (NYSE:AROC)

Eagle Asset Management Inc. purchased a new stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 1,092,274 shares of the energy company's stock, valued at approximately $22,108,000. Eagle Asset Management Inc. owned 0.65% of Archrock at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC purchased a new position in Archrock during the 3rd quarter valued at about $30,000. Quarry LP purchased a new position in shares of Archrock during the 2nd quarter worth approximately $52,000. CWM LLC raised its position in shares of Archrock by 382.0% during the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company's stock worth $73,000 after purchasing an additional 2,846 shares during 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 during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Archrock during the second quarter worth $101,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AROC. Evercore ISI began coverage on Archrock in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 price objective on the stock. Royal Bank of Canada raised 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, November 14th. Citigroup began coverage on shares of Archrock in a research report on Friday, September 27th. They issued a "buy" rating and a $24.00 price objective for the company. Mizuho started coverage on shares of Archrock in a research report on Wednesday, October 2nd. They set an "outperform" rating and a $24.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Archrock in a research note on Friday, September 6th. They issued an "overweight" rating and a $24.00 target price for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Archrock presently has an average rating of "Moderate Buy" and a consensus target price of $24.67.

Archrock Trading Up 0.5 %

Shares of AROC traded up $0.12 during mid-day trading on Friday, hitting $25.86. The company had a trading volume of 1,504,421 shares, compared to its average volume of 1,265,843. Archrock, Inc. has a 1-year low of $13.95 and a 1-year high of $26.36. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The business's 50-day simple moving average is $21.52 and its 200-day simple moving average is $20.51. The stock has a market cap of $4.53 billion, a PE ratio of 28.41 and a beta of 1.52.

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, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $292.16 million during the quarter, compared to analysts' expectations of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. Sell-side analysts forecast 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 given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.71%. 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 76.92%.

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.