Kayne Anderson Capital Advisors LP purchased a new stake in Archrock, Inc. (NYSE:AROC – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 964,888 shares of the energy company’s stock, valued at approximately $39,281,000. Archrock accounts for about 0.8% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 24th biggest position.
Other hedge funds also recently made changes to their positions in the company. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Archrock by 1.7% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 18,744 shares of the energy company’s stock worth $652,000 after acquiring an additional 311 shares during the period. Financial Security Advisor Inc. increased its stake in Archrock by 3.0% in the fourth quarter. Financial Security Advisor Inc. now owns 12,000 shares of the energy company’s stock valued at $312,000 after acquiring an additional 344 shares during the period. Crossmark Global Holdings Inc. increased its stake in Archrock by 3.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 10,290 shares of the energy company’s stock valued at $268,000 after acquiring an additional 366 shares during the period. Severin Investments LLC lifted its stake in Archrock by 2.0% during the fourth quarter. Severin Investments LLC now owns 20,111 shares of the energy company’s stock worth $523,000 after purchasing an additional 400 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its stake in Archrock by 3.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 12,833 shares of the energy company’s stock worth $334,000 after purchasing an additional 442 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.
Archrock Price Performance
Shares of Archrock stock opened at $32.17 on Friday. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 1.49 and a beta of 0.86. The firm’s 50-day moving average price is $36.53 and its two-hundred day moving average price is $35.78. The company has a current ratio of 1.39, a quick ratio of 0.94 and a debt-to-equity ratio of 1.51. Archrock, Inc. has a 1-year low of $22.88 and a 1-year high of $42.23.
Archrock Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, August 4th. This is a positive change from Archrock’s previous quarterly dividend of $0.22. Archrock’s dividend payout ratio is presently 49.46%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on AROC shares. Mizuho upped their price objective on Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Stifel Nicolaus set a $41.00 target price on Archrock in a research report on Thursday, May 7th. Evercore set a $40.00 price target on Archrock in a research note on Monday. Royal Bank Of Canada upped their price target on Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Wells Fargo & Company dropped their price objective on Archrock from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.29.
Read Our Latest Analysis on Archrock
Archrock Profile
Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.
The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.
Read More
- Five stocks we like better than Archrock
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
Want to see what other hedge funds are holding AROC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archrock, Inc. (NYSE:AROC – Free Report).
Receive News & Ratings for Archrock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archrock and related companies with MarketBeat.com's FREE daily email newsletter.
