Sanctuary Advisors LLC Acquires New Holdings in Archrock, Inc. $AROC

Sanctuary Advisors LLC bought a new position in shares of Archrock, Inc. (NYSE:AROCFree Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 189,975 shares of the energy company’s stock, valued at approximately $7,734,000. Sanctuary Advisors LLC owned about 0.11% of Archrock at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AROC. BlackRock Inc. acquired a new stake in Archrock during the second quarter worth about $1,217,511,000. Bank of New York Mellon Corp bought a new stake in shares of Archrock in the 2nd quarter worth about $84,463,000. Energy Income Partners LLC acquired a new stake in shares of Archrock during the second quarter worth approximately $58,510,000. Neuberger Berman Group LLC increased its holdings in Archrock by 9,756.7% during the 4th quarter. Neuberger Berman Group LLC now owns 1,293,002 shares of the energy company’s stock valued at $33,644,000 after purchasing an additional 1,279,884 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Archrock in the second quarter valued at $51,617,000. 95.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AROC shares. Weiss Ratings downgraded shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $46.00 price target on shares of Archrock in a research report on Thursday, May 7th. Royal Bank Of Canada boosted their price target on Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Citigroup increased their target price on shares of Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $41.00 price target on Archrock in a research report on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Archrock currently has a consensus rating of “Moderate Buy” and an average price target of $42.29.

Check Out Our Latest Research Report on Archrock

Archrock Price Performance

Shares of NYSE AROC opened at $30.73 on Tuesday. Archrock, Inc. has a fifty-two week low of $22.88 and a fifty-two week high of $42.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.39 and a quick ratio of 0.94. The business has a fifty day moving average price of $36.32 and a two-hundred day moving average price of $35.80. The stock has a market capitalization of $5.39 billion, a PE ratio of 16.52, a P/E/G ratio of 1.47 and a beta of 0.86.

Archrock (NYSE:AROCGet Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). The firm had revenue of $371.24 million for the quarter, compared to analyst estimates of $393.19 million. Archrock had a net margin of 21.84% and a return on equity of 22.22%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. As a group, equities analysts predict that Archrock, Inc. will post 1.81 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.0%. This is a positive change from Archrock’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, August 4th. Archrock’s payout ratio is presently 49.46%.

About Archrock

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Archrock (NYSE:AROC)

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