Jupiter Topco LLC purchased a new stake in Archrock, Inc. (NYSE:AROC – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 133,585 shares of the energy company’s stock, valued at approximately $5,439,000. Jupiter Topco LLC owned about 0.08% of Archrock as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC acquired a new position in Archrock during the first quarter worth $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Archrock in the 4th quarter worth $27,000. Jones Financial Companies Lllp increased its stake in shares of Archrock by 217.9% in the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after acquiring an additional 902 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Archrock during the 1st quarter worth $36,000. Finally, Covestor Ltd raised its holdings in shares of Archrock by 234.9% during the 4th quarter. Covestor Ltd now owns 1,410 shares of the energy company’s stock worth $37,000 after acquiring an additional 989 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on AROC. Wells Fargo & Company dropped their price objective on shares of Archrock from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Royal Bank Of Canada lifted their target price on shares of Archrock from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, August 17th. Weiss Ratings lowered shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Citigroup increased their price target on shares of Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Mizuho raised their price target on shares of Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Archrock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.29.
Archrock Trading Up 0.5%
NYSE AROC opened at $31.41 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.94 and a current ratio of 1.39. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 1.51 and a beta of 0.86. The firm has a 50 day simple moving average of $35.80 and a 200-day simple moving average of $35.80. Archrock, Inc. has a one year low of $22.88 and a one year high of $42.23.
Archrock (NYSE:AROC – Get Free Report) last announced its 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 business had revenue of $371.24 million for the quarter, compared to analysts’ expectations of $393.19 million. Archrock had a return on equity of 22.22% and a net margin of 21.84%.Archrock’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. Equities research analysts anticipate that Archrock, Inc. will post 1.73 EPS 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 2.9%. 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%.
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.
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