Principal Financial Group Inc. Has $17.27 Million Stock Holdings in Archrock, Inc. (NYSE:AROC)

Principal Financial Group Inc. boosted its holdings in Archrock, Inc. (NYSE:AROC - Free Report) by 24.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 853,295 shares of the energy company's stock after purchasing an additional 167,510 shares during the quarter. Principal Financial Group Inc. owned approximately 0.55% of Archrock worth $17,271,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Archrock by 4.9% in the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company's stock worth $360,385,000 after buying an additional 849,750 shares during the period. Earnest Partners LLC lifted its position in Archrock by 2.6% in the 1st quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company's stock valued at $275,536,000 after purchasing an additional 351,391 shares during the last quarter. American Century Companies Inc. boosted its stake in Archrock by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company's stock valued at $80,036,000 after purchasing an additional 672,663 shares during the period. Energy Income Partners LLC grew its position in Archrock by 4.9% in the 1st quarter. Energy Income Partners LLC now owns 2,468,897 shares of the energy company's stock worth $48,563,000 after purchasing an additional 116,298 shares during the last quarter. Finally, Millennium Management LLC grew its position in Archrock by 60.3% in the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company's stock worth $47,389,000 after purchasing an additional 882,024 shares during the last quarter. Institutional investors own 95.45% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AROC. JPMorgan Chase & Co. assumed coverage on Archrock in a research note on Friday, September 6th. They set an "overweight" rating and a $24.00 target price on the stock. Mizuho began coverage on shares of Archrock in a research report on Wednesday, October 2nd. They issued an "outperform" rating and a $24.00 price target for the company. Stifel Nicolaus increased their target price on shares of Archrock from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Evercore ISI initiated coverage on shares of Archrock in a report on Wednesday, September 25th. They set an "outperform" rating and a $24.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Archrock currently has a consensus rating of "Moderate Buy" and an average price target of $24.67.

Archrock Price Performance

Shares of AROC stock traded down $0.09 during mid-day trading on Friday, reaching $23.17. The company's stock had a trading volume of 373,738 shares, compared to its average volume of 1,422,878. Archrock, Inc. has a 1-year low of $13.89 and a 1-year high of $24.71. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 1.26. The company has a market cap of $4.06 billion, a P/E ratio of 25.56 and a beta of 1.52. The firm's 50-day moving average is $20.76 and its two-hundred day moving average is $20.29.

Archrock (NYSE:AROC - Get Free Report) last announced its earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping 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 business had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. During the same period in the previous year, the business earned $0.20 EPS. Archrock's revenue was up 15.3% compared to the same quarter last year. On average, research analysts predict that Archrock, Inc. will post 1.13 earnings per share for the current year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a dividend of $0.175 per share. This is an increase from Archrock's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 3.02%. Archrock's dividend payout ratio is 76.92%.

Archrock Company Profile

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.