Archrock, Inc. (NYSE:AROC) Stock Position Raised by Barclays PLC

Barclays PLC lifted its stake in shares of Archrock, Inc. (NYSE:AROC) by 124.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 302,610 shares of the energy company’s stock after purchasing an additional 167,648 shares during the period. Barclays PLC’s holdings in Archrock were worth $6,125,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new stake in Archrock during the 3rd quarter worth about $28,000. Wolff Wiese Magana LLC purchased a new position in shares of Archrock in the third quarter worth approximately $30,000. Continuum Advisory LLC raised its holdings in shares of Archrock by 5,621.6% during the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock valued at $43,000 after acquiring an additional 2,080 shares during the period. Millburn Ridgefield Corp acquired a new stake in shares of Archrock during the third quarter valued at approximately $50,000. Finally, Quarry LP purchased a new stake in shares of Archrock in the 2nd quarter valued at approximately $52,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AROC has been the topic of several research analyst reports. Mizuho initiated coverage on shares of Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price objective on the stock. Royal Bank of Canada lifted 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. Citigroup began coverage on Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price objective for the company. Evercore ISI assumed coverage on Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 29th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.17.

Archrock Stock Performance

Shares of NYSE AROC opened at $24.03 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. Archrock, Inc. has a one year low of $14.39 and a one year high of $27.05. The business’s 50-day moving average price is $23.29 and its two-hundred day moving average price is $21.22. The company has a market capitalization of $4.21 billion, a P/E ratio of 26.41 and a beta of 1.59.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 EPS. Analysts anticipate that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.175 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio (DPR) is currently 76.92%.

Archrock Company Profile

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.