Hsbc Holdings PLC Buys 43,130 Shares of Archrock, Inc. (NYSE:AROC)

Hsbc Holdings PLC raised its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 91.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,546 shares of the energy company's stock after acquiring an additional 43,130 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of Archrock worth $1,820,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Archrock during the 1st quarter valued at approximately $43,000. CWM LLC lifted its holdings in shares of Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company's stock valued at $73,000 after purchasing an additional 2,846 shares in the last quarter. GAMMA Investing LLC grew its holdings in Archrock by 16.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company's stock valued at $82,000 after buying an additional 578 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Archrock during the second quarter worth $101,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Archrock by 70.6% in the first quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company's stock worth $117,000 after acquiring an additional 2,461 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Stifel Nicolaus increased their price target on Archrock from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Citigroup started coverage on Archrock in a research note on Friday. They issued a "buy" rating and a $24.00 price target on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $22.00 price objective on shares of Archrock in a research note on Wednesday, August 7th. Evercore ISI initiated coverage on shares of Archrock in a report on Wednesday. They issued an "outperform" rating and a $24.00 target price for the company. Finally, StockNews.com downgraded shares of Archrock from a "buy" rating to a "hold" rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.33.

Archrock Price Performance

NYSE:AROC traded up $0.23 during trading hours on Friday, reaching $20.39. 1,567,291 shares of the company's stock were exchanged, compared to its average volume of 1,481,047. The company has a market capitalization of $3.19 billion, a P/E ratio of 24.57 and a beta of 1.51. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80. The business's 50-day simple moving average is $19.97 and its two-hundred day simple moving average is $19.93. Archrock, Inc. has a 12 month low of $11.73 and a 12 month high of $23.44.

Archrock (NYSE:AROC - Get Free Report) last released its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Archrock had a return on equity of 16.35% and a net margin of 13.20%. The company had revenue of $270.53 million for the quarter, compared to analysts' expectations of $270.61 million. Sell-side analysts expect that Archrock, Inc. will post 1.07 EPS for the current fiscal year.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.24%. Archrock's dividend payout ratio (DPR) is presently 79.52%.

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.