Northern Trust Corp Acquires 25,951 Shares of Archrock, Inc. (AROC)
Northern Trust Corp increased its holdings in shares of Archrock, Inc. (NYSE:AROC) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 866,022 shares of the energy company’s stock after acquiring an additional 25,951 shares during the period. Northern Trust Corp owned about 1.22% of Archrock worth $9,872,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Pacad Investment Ltd. boosted its position in shares of Archrock by 6.0% during the 2nd quarter. Pacad Investment Ltd. now owns 8,900 shares of the energy company’s stock valued at $101,000 after acquiring an additional 500 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in shares of Archrock by 696.1% during the 2nd quarter. Harbour Capital Advisors LLC now owns 11,400 shares of the energy company’s stock valued at $1,000,000 after acquiring an additional 9,968 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Archrock by 79.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,008 shares of the energy company’s stock valued at $159,000 after acquiring an additional 6,218 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Archrock by 4.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,650 shares of the energy company’s stock valued at $190,000 after acquiring an additional 780 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Archrock by 101.3% during the 1st quarter. UBS Group AG now owns 20,020 shares of the energy company’s stock valued at $248,000 after acquiring an additional 10,077 shares in the last quarter. Institutional investors and hedge funds own 92.55% of the company’s stock.
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Archrock, Inc. (NYSE:AROC) opened at $10.70 on Wednesday. Archrock, Inc. has a 12 month low of $8.30 and a 12 month high of $16.40. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.94 and a current ratio of 1.63.
Archrock (NYSE:AROC) last announced its earnings results on Thursday, November 2nd. The energy company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). Archrock had a negative return on equity of 2.93% and a negative net margin of 8.62%. The company had revenue of $197.85 million during the quarter, compared to the consensus estimate of $202.34 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. analysts expect that Archrock, Inc. will post 0.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Tuesday, November 7th. Archrock’s dividend payout ratio is presently -48.98%.
Several analysts have recently weighed in on the stock. Royal Bank Of Canada upgraded shares of Archrock from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 23rd. Zacks Investment Research lowered shares of Archrock from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. BidaskClub lowered shares of Archrock from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. J P Morgan Chase & Co restated a “neutral” rating and issued a $12.00 price target (down from $13.00) on shares of Archrock in a research report on Tuesday, August 8th. Finally, FBR & Co restated a “market perform” rating and issued a $12.00 price target (up from $11.00) on shares of Archrock in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.29.
Archrock, Inc is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
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