King Luther Capital Management Corp Takes Position in Archrock, Inc. (NYSE:AROC)

King Luther Capital Management Corp bought a new stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 166,152 shares of the energy company's stock, valued at approximately $3,363,000. King Luther Capital Management Corp owned about 0.10% of Archrock at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC bought a new position in shares of Archrock during the third quarter worth about $30,000. Quarry LP bought a new position in shares of Archrock during the second quarter worth about $52,000. CWM LLC grew its position in shares of Archrock by 382.0% during the second 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 last quarter. GAMMA Investing LLC grew its position in shares of 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. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Archrock during the second quarter worth about $101,000. Institutional investors own 95.45% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AROC shares. Evercore ISI assumed coverage on shares of Archrock in a research report on Wednesday, September 25th. They set an "outperform" rating and a $24.00 price target for the company. Royal Bank of Canada upped their price target on shares of Archrock from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. started coverage on Archrock in a report on Friday, September 6th. They set an "overweight" rating and a $24.00 price objective on the stock. Citigroup started coverage on Archrock in a report on Friday, September 27th. They issued a "buy" rating and a $24.00 target price on the stock. Finally, Mizuho started coverage on Archrock in a report on Wednesday, October 2nd. They issued 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.67.

Archrock Stock Up 0.5 %

NYSE:AROC traded up $0.12 during mid-day trading on Friday, reaching $25.86. The stock had a trading volume of 1,504,421 shares, compared to its average volume of 1,265,843. The business's 50 day moving average is $21.52 and its 200 day moving average is $20.51. Archrock, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $26.36. The stock has a market cap of $4.53 billion, a P/E ratio of 28.41 and a beta of 1.52. 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 announced its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million during the quarter, compared to analysts' expectations of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The company's revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, sell-side analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The business also recently announced 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 2.71%. This is a boost 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.