EFG International AG Acquires New Shares in Archrock, Inc. $AROC

EFG International AG bought a new position in Archrock, Inc. (NYSE:AROC) in the second quarter, HoldingsChannel reports. The fund bought 106,308 shares of the energy company’s stock, valued at approximately $4,329,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Archrock by 15,293.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 138,388 shares of the energy company’s stock valued at $3,601,000 after purchasing an additional 137,489 shares during the last quarter. Marietta Investment Partners LLC purchased a new stake in Archrock in the fourth quarter worth approximately $1,611,000. BlackRock Inc. bought a new stake in Archrock in the 2nd quarter worth approximately $1,217,511,000. Natixis Advisors LLC grew its position in Archrock by 22.4% in the 4th quarter. Natixis Advisors LLC now owns 1,685,080 shares of the energy company’s stock worth $43,846,000 after purchasing an additional 308,246 shares during the period. Finally, Stephens Investment Management Group LLC bought a new stake in Archrock in the 4th quarter worth approximately $32,904,000. Institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AROC. Wells Fargo & Company lowered their price target on Archrock from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Citigroup upped their price objective on Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Evercore set a $40.00 target price on Archrock in a research report on Monday, August 17th. Raymond James Financial restated an “outperform” rating and set a $46.00 price target on shares of Archrock in a research note on Thursday, May 7th. Finally, Mizuho increased their price objective on shares of Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.29.

Archrock Price Performance

Shares of Archrock stock opened at $30.72 on Wednesday. Archrock, Inc. has a one year low of $22.88 and a one year high of $42.23. The stock’s fifty day moving average is $36.22 and its 200 day moving average is $35.80. The stock has a market cap of $5.39 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.42 and a beta of 0.86. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.94 and a current ratio of 1.39.

Archrock (NYSE:AROC) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). The company had revenue of $371.24 million for the quarter, compared to the consensus estimate of $393.19 million. Archrock had a net margin of 21.84% and a return on equity of 22.22%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. Sell-side analysts anticipate that Archrock, Inc. will post 1.81 earnings per share for the current year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th were paid a dividend of $0.23 per share. This is a boost from Archrock’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, August 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. Archrock’s dividend payout ratio is presently 49.46%.

Archrock Profile

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.