Archrock, Inc. (NYSE:AROC) Shares Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC grew its holdings in shares of Archrock, Inc. (NYSE:AROC) by 45.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,039 shares of the energy company’s stock after purchasing an additional 7,565 shares during the period. Moran Wealth Management LLC’s holdings in Archrock were worth $487,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Archrock by 4.9% in the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after acquiring an additional 849,750 shares in the last quarter. Earnest Partners LLC increased its stake in Archrock by 2.6% during the 1st quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock valued at $275,536,000 after purchasing an additional 351,391 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Archrock by 20.5% in the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after buying an additional 672,663 shares during the last quarter. Energy Income Partners LLC lifted its stake in shares of Archrock by 4.9% during the first quarter. Energy Income Partners LLC now owns 2,468,897 shares of the energy company’s stock worth $48,563,000 after buying an additional 116,298 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Archrock by 60.3% during the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock valued at $47,389,000 after buying an additional 882,024 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Stock Up 0.4 %

AROC opened at $25.85 on Friday. The company has a fifty day moving average of $21.39 and a two-hundred day moving average of $20.47. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 28.41 and a beta of 1.52. Archrock, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $26.36. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26.

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

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.71%. This is a boost from Archrock’s previous quarterly dividend of $0.17. Archrock’s payout ratio is currently 76.92%.

Analyst Ratings Changes

A number of equities research analysts recently commented on AROC shares. Mizuho assumed coverage on Archrock in a report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price for the company. Citigroup assumed coverage on shares of Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price objective for the company. Evercore ISI began coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 target price for the company. Finally, Royal Bank of Canada upped their price target on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.67.

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.