Algert Global LLC Raises Stock Holdings in Archrock, Inc. (NYSE:AROC)

Algert Global LLC boosted its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 175.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 567,240 shares of the energy company's stock after purchasing an additional 361,520 shares during the period. Archrock comprises approximately 0.4% of Algert Global LLC's portfolio, making the stock its 26th largest position. Algert Global LLC owned 0.36% of Archrock worth $11,470,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AROC. Norges Bank acquired a new stake in shares of Archrock in the fourth quarter valued at $15,958,000. Wells Fargo & Company MN increased its stake in Archrock by 7.1% during the fourth quarter. Wells Fargo & Company MN now owns 752,819 shares of the energy company's stock worth $11,593,000 after purchasing an additional 49,697 shares during the period. Franklin Resources Inc. lifted its position in shares of Archrock by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 75,639 shares of the energy company's stock worth $1,165,000 after purchasing an additional 3,301 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Archrock by 302.9% during the fourth quarter. Allianz Asset Management GmbH now owns 912,784 shares of the energy company's stock worth $14,057,000 after purchasing an additional 686,242 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Archrock by 37.7% in the fourth quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company's stock valued at $78,753,000 after purchasing an additional 1,399,309 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Archrock Stock Up 1.1 %

Shares of AROC traded up $0.23 during mid-day trading on Friday, reaching $20.39. The company's stock had a trading volume of 1,612,022 shares, compared to its average volume of 1,481,047. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. Archrock, Inc. has a 12-month low of $11.73 and a 12-month high of $23.44. The stock has a market cap of $3.19 billion, a PE ratio of 24.57 and a beta of 1.51. The company's 50 day moving average is $19.92 and its 200 day moving average is $19.96.

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

Archrock Dividend Announcement

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

Analysts Set New Price Targets

AROC has been the topic of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $22.00 target price on shares of Archrock in a report on Wednesday, August 7th. JPMorgan Chase & Co. began coverage on Archrock in a research note on Friday, September 6th. They set an "overweight" rating and a $24.00 target price for the company. Stifel Nicolaus increased their price target on Archrock from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Citigroup started coverage on Archrock in a research report on Friday. They set a "buy" rating and a $24.00 price objective for the company. Finally, Evercore ISI assumed coverage on shares of Archrock in a report on Wednesday. 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 issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.33.

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.