Eagle Asset Management Inc. Takes Position in Archrock, Inc. (NYSE:AROC)

Eagle Asset Management Inc. purchased a new stake in Archrock, Inc. (NYSE:AROC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,092,274 shares of the energy company’s stock, valued at approximately $22,108,000. Eagle Asset Management Inc. owned 0.65% of Archrock as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kayne Anderson Capital Advisors LP boosted its stake in Archrock by 1,680.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock worth $30,976,000 after purchasing an additional 1,444,471 shares during the period. Boston Partners acquired a new position in Archrock in the 1st quarter worth $24,875,000. Millennium Management LLC boosted its stake in Archrock by 60.3% in the 2nd 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 during the period. Vanguard Group Inc. boosted its stake in Archrock by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after purchasing an additional 849,750 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Archrock by 20.5% during the 2nd 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. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of Archrock stock opened at $25.85 on Friday. 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 current ratio of 1.26 and a quick ratio of 0.82. The firm has a market capitalization of $4.53 billion, a P/E ratio of 28.41 and a beta of 1.52. The company’s 50 day moving average price is $21.39 and its two-hundred day moving average price is $20.47.

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

Archrock Increases Dividend

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

Wall Street Analyst Weigh In

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