Archrock, Inc. (NYSE:AROC) Shares Bought by Fmr LLC

FMR LLC raised its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 54.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 709,920 shares of the energy company's stock after purchasing an additional 250,469 shares during the period. FMR LLC owned 0.42% of Archrock worth $14,369,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Brown Brothers Harriman & Co. purchased a new stake in shares of Archrock during the third quarter valued at about $28,000. Wolff Wiese Magana LLC purchased a new stake in Archrock during the third quarter valued at approximately $30,000. Quarry LP acquired a new stake in Archrock in the second quarter valued at approximately $52,000. CWM LLC grew its holdings in Archrock by 382.0% in the second 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. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Archrock during the second quarter worth $101,000. Institutional investors own 95.45% of the company's stock.

Archrock Stock Performance

AROC stock traded up $0.98 during midday trading on Wednesday, hitting $26.67. 2,124,507 shares of the stock traded hands, compared to its average volume of 1,428,911. Archrock, Inc. has a 1-year low of $14.39 and a 1-year high of $27.05. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. The stock's fifty day simple moving average is $22.82 and its 200-day simple moving average is $21.00. The firm has a market cap of $4.67 billion, a P/E ratio of 29.31 and a beta of 1.59.

Archrock (NYSE:AROC - Get Free Report) last announced its quarterly earnings results 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. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The firm had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. During the same quarter in the previous year, the business earned $0.20 EPS. Archrock's revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.62%. The ex-dividend date was Wednesday, November 6th. This is a positive change from Archrock's previous quarterly dividend of $0.17. Archrock's payout ratio is presently 76.92%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AROC. Evercore ISI initiated coverage on Archrock in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 price objective for the company. Citigroup initiated coverage on Archrock in a report on Friday, September 27th. They issued a "buy" rating and a $24.00 price target for the company. Royal Bank of Canada boosted their price target on Archrock from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. increased their price objective on shares of Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, November 29th. Finally, Mizuho began 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.