Van ECK Associates Corp Grows Holdings in Archrock, Inc. (NYSE:AROC)

Van ECK Associates Corp increased its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 93.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,251 shares of the energy company's stock after purchasing an additional 32,971 shares during the period. Van ECK Associates Corp's holdings in Archrock were worth $1,383,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Archrock by 4.9% during the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company's stock worth $360,385,000 after purchasing an additional 849,750 shares during the last quarter. 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 worth $275,536,000 after buying an additional 351,391 shares during the last quarter. American Century Companies Inc. boosted its stake in Archrock by 20.5% in the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company's stock worth $80,036,000 after buying an additional 672,663 shares in the last quarter. Energy Income Partners LLC grew its position in Archrock by 4.9% during the first quarter. Energy Income Partners LLC now owns 2,468,897 shares of the energy company's stock valued at $48,563,000 after acquiring an additional 116,298 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Archrock by 60.3% during the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company's stock worth $47,389,000 after acquiring an additional 882,024 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Evercore ISI began coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 price objective for the company. Stifel Nicolaus raised their price objective on Archrock from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Citigroup assumed coverage on Archrock in a research note on Friday, September 27th. They issued a "buy" rating and a $24.00 target price for the company. JPMorgan Chase & Co. started coverage on Archrock in a research report on Friday, September 6th. They set an "overweight" rating and a $24.00 price target on the stock. Finally, Mizuho assumed coverage on Archrock in a research note on Wednesday, October 2nd. They issued an "outperform" rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.50.

Archrock Trading Up 1.5 %

Shares of NYSE AROC traded up $0.36 during trading hours on Tuesday, hitting $23.97. The company's stock had a trading volume of 626,737 shares, compared to its average volume of 1,422,104. The business has a 50-day simple moving average of $20.50 and a 200-day simple moving average of $20.22. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 26.52 and a beta of 1.52. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. Archrock, Inc. has a 12 month low of $13.65 and a 12 month high of $24.71.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million for the quarter, compared to analyst estimates of $286.19 million. Archrock had a return on equity of 16.35% and a net margin of 13.20%. The business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS. On average, analysts anticipate that Archrock, Inc. will post 1.13 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.175 per share. This is an increase from Archrock's previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Wednesday, November 6th. Archrock's payout ratio is presently 78.65%.

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.