Man Group plc purchased a new position in shares of Archrock, Inc. (NYSE:AROC – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 86,335 shares of the energy company’s stock, valued at approximately $3,515,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Valued Wealth Advisors LLC acquired a new stake in Archrock during the 1st quarter worth $26,000. Garton & Associates Financial Advisors LLC acquired a new position in Archrock in the fourth quarter valued at about $27,000. Jones Financial Companies Lllp grew its stake in Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock valued at $35,000 after acquiring an additional 902 shares during the period. Summit Securities Group LLC bought a new stake in shares of Archrock in the first quarter worth about $36,000. Finally, Covestor Ltd increased its holdings in shares of Archrock by 234.9% in the fourth quarter. Covestor Ltd now owns 1,410 shares of the energy company’s stock worth $37,000 after acquiring an additional 989 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on AROC. Citigroup lifted their price objective on Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Stifel Nicolaus set a $41.00 target price on Archrock in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Wells Fargo & Company cut their price target on shares of Archrock from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Finally, Mizuho upped their price target on shares of Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Archrock has an average rating of “Moderate Buy” and an average price target of $42.29.
Archrock Trading Up 0.5%
NYSE:AROC opened at $31.41 on Tuesday. The company has a market cap of $5.51 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 1.51 and a beta of 0.86. Archrock, Inc. has a twelve month low of $22.88 and a twelve month high of $42.23. The business has a 50 day moving average price of $35.80 and a two-hundred day moving average price of $35.80. The company has a quick ratio of 0.94, a current ratio of 1.39 and a debt-to-equity ratio of 1.51.
Archrock (NYSE:AROC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The business had revenue of $371.24 million during the quarter, compared to the consensus estimate of $393.19 million. Archrock had a return on equity of 22.22% and a net margin of 21.84%.The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. As a group, analysts expect that Archrock, Inc. will post 1.73 EPS for the current fiscal year.
Archrock Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Archrock’s previous quarterly dividend of $0.22. Archrock’s dividend payout ratio (DPR) is currently 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.
Further Reading
- Five stocks we like better than Archrock
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
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.
