HITE Hedge Asset Management LLC Makes New Investment in Archrock, Inc. (NYSE:AROC)

HITE Hedge Asset Management LLC acquired a new stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 540,482 shares of the energy company's stock, valued at approximately $10,939,000. Archrock comprises approximately 1.3% of HITE Hedge Asset Management LLC's portfolio, making the stock its 29th largest holding. HITE Hedge Asset Management LLC owned 0.31% of Archrock as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Archrock by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company's stock worth $1,658,000 after purchasing an additional 710 shares during the last quarter. GAMMA Investing LLC boosted its position in Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company's stock worth $82,000 after acquiring an additional 578 shares during the last quarter. CWM LLC grew its stake in 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 during the period. SG Americas Securities LLC raised its holdings in Archrock by 2,740.8% in the 2nd quarter. SG Americas Securities LLC now owns 191,898 shares of the energy company's stock valued at $3,880,000 after acquiring an additional 185,143 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Archrock by 6.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company's stock worth $230,000 after purchasing an additional 713 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Analysts Set New Price Targets

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

Archrock Trading Up 2.1 %

Shares of NYSE:AROC traded up $0.53 during midday trading on Tuesday, reaching $25.92. The company had a trading volume of 3,278,887 shares, compared to its average volume of 1,425,517. The company has a fifty day simple moving average of $22.09 and a two-hundred day simple moving average of $20.73. 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 firm has a market cap of $4.54 billion, a price-to-earnings ratio of 28.48 and a beta of 1.59. Archrock, Inc. has a 1-year low of $14.14 and a 1-year high of $26.36.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The business had revenue of $292.16 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Research analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a $0.175 dividend. This is a positive change from Archrock's previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 2.70%. The ex-dividend date was Wednesday, November 6th. Archrock's dividend payout ratio is presently 76.92%.

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.