Thrivent Financial for Lutherans lifted its stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 41.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 746,320 shares of the energy company's stock after buying an additional 218,048 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.44% of Archrock worth $15,106,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in AROC. Janney Montgomery Scott LLC grew its stake in shares of Archrock by 9.0% during the first quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company's stock worth $257,000 after purchasing an additional 1,079 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Archrock in the 1st quarter valued at $133,000. Russell Investments Group Ltd. lifted its position in Archrock by 70.6% in the first quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company's stock valued at $117,000 after acquiring an additional 2,461 shares during the last quarter. Vanguard Group Inc. boosted its stake in Archrock by 4.9% in the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company's stock valued at $360,385,000 after acquiring an additional 849,750 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Archrock during the first quarter worth about $210,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AROC has been the topic of a number of research reports. Citigroup initiated coverage on Archrock in a research note on Friday, September 27th. They set a "buy" rating and a $24.00 price target on the stock. Evercore ISI assumed coverage on shares of Archrock in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 price target for the company. JPMorgan Chase & Co. started coverage on shares of Archrock in a research note on Friday, September 6th. They set an "overweight" rating and a $24.00 price target for the company. Mizuho assumed coverage on shares of Archrock in a report on Wednesday, October 2nd. They issued an "outperform" rating and a $24.00 target price for the company. Finally, Royal Bank of Canada raised their price target on Archrock from $26.00 to $27.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.67.
View Our Latest Stock Analysis on Archrock
Archrock Stock Performance
NYSE:AROC traded up $0.31 during mid-day trading on Thursday, reaching $24.63. The stock had a trading volume of 48,805 shares, compared to its average volume of 1,416,848. Archrock, Inc. has a twelve month low of $13.95 and a twelve month high of $24.84. The business has a 50 day simple moving average of $21.26 and a 200 day simple moving average of $20.43. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 26.72 and a beta of 1.52. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26.
Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $286.19 million. During the same period last year, the firm earned $0.20 EPS. The company's quarterly revenue was up 15.3% compared to the same quarter last year. On average, analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.
Archrock Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Wednesday, November 6th. This is an increase from Archrock's previous quarterly dividend of $0.17. Archrock's dividend payout ratio (DPR) is currently 76.92%.
About Archrock
(
Free Report)
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.
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