JPMorgan Chase & Co. Increases Stock Position in Archrock, Inc. (NYSE:AROC)

JPMorgan Chase & Co. grew its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 94.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 422,383 shares of the energy company's stock after buying an additional 205,241 shares during the quarter. JPMorgan Chase & Co. owned 0.24% of Archrock worth $8,549,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC lifted its stake in Archrock by 124.2% in the third quarter. Barclays PLC now owns 302,610 shares of the energy company's stock worth $6,125,000 after acquiring an additional 167,648 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Archrock during the 3rd quarter worth $314,000. Algert Global LLC grew its stake in shares of Archrock by 175.7% during the second quarter. Algert Global LLC now owns 567,240 shares of the energy company's stock worth $11,470,000 after purchasing an additional 361,520 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Archrock in the third quarter valued at $200,000. Finally, HITE Hedge Asset Management LLC purchased a new stake in Archrock during the 3rd quarter worth about $10,939,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Mizuho initiated coverage on 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 raised their price objective on shares of Archrock from $26.00 to $27.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. Evercore ISI started coverage on shares of Archrock in a report on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Archrock from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. Finally, Citigroup initiated coverage on shares of Archrock in a research note on Friday, September 27th. They issued a "buy" rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $25.17.

Archrock Stock Performance

NYSE:AROC traded up $1.65 during trading hours on Tuesday, reaching $28.60. 2,287,783 shares of the company's stock were exchanged, compared to its average volume of 1,374,460. The company has a 50-day moving average of $25.04 and a 200 day moving average of $22.03. Archrock, Inc. has a 1-year low of $14.57 and a 1-year high of $28.65. 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 firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 31.43 and a beta of 1.58.

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 (EPS) 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 for the quarter, compared to analysts' expectations of $286.19 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. Research analysts anticipate that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given 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 yield of 2.45%. This is an increase from Archrock's previous quarterly dividend of $0.17. 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.