Insigneo Advisory Services LLC Acquires New Stake in Archrock, Inc. (NYSE:AROC)

Insigneo Advisory Services LLC bought a new position in shares of Archrock, Inc. (NYSE:AROC) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 17,521 shares of the energy company’s stock, valued at approximately $355,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Archrock by 11.5% during the third quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock worth $138,376,000 after purchasing an additional 707,379 shares in the last quarter. American Century Companies Inc. raised its holdings in Archrock by 20.5% during the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after purchasing an additional 672,663 shares in the last quarter. Millennium Management LLC raised its holdings in 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 purchasing an additional 882,024 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Archrock by 13.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock worth $47,034,000 after purchasing an additional 274,763 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Archrock by 9.4% during the second quarter. Bank of New York Mellon Corp now owns 2,169,768 shares of the energy company’s stock worth $43,873,000 after purchasing an additional 185,962 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

AROC has been the topic of several recent analyst reports. Mizuho initiated coverage on Archrock in a report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price on the stock. Royal Bank of Canada upped their price target on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upped their price target on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Evercore ISI initiated coverage on Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Citigroup initiated coverage on Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Price Performance

AROC opened at $25.45 on Monday. The stock has a fifty day moving average of $22.51 and a 200-day moving average of $20.88. The firm has a market capitalization of $4.46 billion, a P/E ratio of 27.97 and a beta of 1.59. Archrock, Inc. has a 12-month low of $14.23 and a 12-month high of $26.36. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last released its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. Equities analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a $0.175 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.75%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio is presently 76.92%.

About Archrock

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.