State Street Corp Buys 707,379 Shares of Archrock, Inc. (NYSE:AROC)

State Street Corp lifted its stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 11.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,836,745 shares of the energy company's stock after buying an additional 707,379 shares during the quarter. State Street Corp owned 3.90% of Archrock worth $138,376,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brown Brothers Harriman & Co. purchased a new position in shares of Archrock during the 3rd quarter valued at approximately $28,000. Wolff Wiese Magana LLC bought a new position in Archrock during the 3rd quarter valued at $30,000. Millburn Ridgefield Corp acquired a new position in Archrock during the 3rd quarter worth $50,000. Quarry LP acquired a new position in Archrock in the second quarter worth about $52,000. Finally, CWM LLC increased its holdings in 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 buying an additional 2,846 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.

Archrock Stock Performance

AROC traded up $0.14 during trading hours on Friday, hitting $25.99. The company's stock had a trading volume of 678,948 shares, compared to its average volume of 1,425,458. Archrock, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $27.05. The company has a 50-day simple moving average of $23.00 and a 200 day simple moving average of $21.10. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $4.55 billion, a PE ratio of 28.56 and a beta of 1.59.

Archrock (NYSE:AROC - Get Free Report) last released 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. 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 analyst estimates of $286.19 million. During the same period in the previous year, the company earned $0.20 earnings per share. Archrock's revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Archrock's previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.69%. Archrock's payout ratio is 76.92%.

Analyst Ratings Changes

AROC has been the topic of several research reports. Citigroup began coverage on Archrock in a research report on Friday, September 27th. They set a "buy" rating and a $24.00 price target on the stock. Mizuho assumed coverage on shares of Archrock in a research report on Wednesday, October 2nd. They set an "outperform" rating and a $24.00 price objective for the company. Evercore ISI initiated coverage on shares of Archrock in a report on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 target price on the stock. Royal Bank of Canada upped their target price on Archrock from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Archrock from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $25.17.

Archrock 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.