Geode Capital Management LLC Increases Position in Archrock, Inc. (NYSE:AROC)

Geode Capital Management LLC raised its position in Archrock, Inc. (NYSE:AROC - Free Report) by 16.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,794,981 shares of the energy company's stock after buying an additional 523,825 shares during the quarter. Geode Capital Management LLC owned about 2.17% of Archrock worth $76,826,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings in Archrock by 11.5% during the third quarter. State Street Corp now owns 6,836,745 shares of the energy company's stock worth $138,376,000 after purchasing an additional 707,379 shares in the last quarter. American Century Companies Inc. increased its position in Archrock by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company's stock worth $80,036,000 after purchasing an additional 672,663 shares during the period. Millennium Management LLC raised its stake in shares of Archrock by 60.3% during the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company's stock worth $47,389,000 after buying an additional 882,024 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Archrock by 13.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company's stock worth $47,034,000 after buying an additional 274,763 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Archrock by 9.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,169,768 shares of the energy company's stock valued at $43,873,000 after buying an additional 185,962 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AROC. Citigroup assumed coverage on shares of Archrock in a research report on Friday, September 27th. They set a "buy" rating and a $24.00 target price on the stock. 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. Royal Bank of Canada lifted their price target on shares of Archrock from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. Evercore ISI assumed coverage on Archrock in a research note on Wednesday, September 25th. They set an "outperform" rating and a $24.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.17.

Archrock Stock Up 2.2 %

Shares of NYSE AROC opened at $24.55 on Friday. The firm's 50-day moving average is $23.35 and its two-hundred day moving average is $21.25. The company has a market capitalization of $4.30 billion, a PE ratio of 26.98 and a beta of 1.59. Archrock, Inc. has a 12-month low of $14.39 and a 12-month 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.

Archrock (NYSE:AROC - Get Free Report) last posted its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. Equities analysts anticipate that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a dividend of $0.175 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.85%. This is a positive change from Archrock's previous quarterly dividend of $0.17. Archrock's dividend payout ratio (DPR) is presently 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.