Oppenheimer Asset Management Inc. Takes $1.86 Million Position in Archrock, Inc. $AROC

Oppenheimer Asset Management Inc. bought a new stake in Archrock, Inc. (NYSE:AROC) during the second quarter, HoldingsChannel reports. The firm bought 45,661 shares of the energy company’s stock, valued at approximately $1,859,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Invesco Ltd. grew its stake in Archrock by 5.5% in the fourth quarter. Invesco Ltd. now owns 8,719,020 shares of the energy company’s stock valued at $226,869,000 after purchasing an additional 457,569 shares in the last quarter. State Street Corp increased its position in shares of Archrock by 2.2% during the 4th quarter. State Street Corp now owns 7,018,889 shares of the energy company’s stock worth $182,631,000 after purchasing an additional 152,312 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Archrock by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,833,290 shares of the energy company’s stock worth $177,805,000 after purchasing an additional 111,218 shares in the last quarter. Sei Investments Co. raised its stake in shares of Archrock by 3.5% during the 3rd quarter. Sei Investments Co. now owns 5,499,093 shares of the energy company’s stock worth $144,681,000 after purchasing an additional 187,252 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Archrock by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 4,163,783 shares of the energy company’s stock valued at $108,359,000 after buying an additional 84,715 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analysts Set New Price Targets

AROC has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on shares of Archrock from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Mizuho upped their target price on shares of Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Citigroup raised their target price on shares of Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada lifted their price target on Archrock from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings downgraded Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.29.

Archrock Trading Down 0.1%

Shares of Archrock stock opened at $34.64 on Monday. The business has a fifty day simple moving average of $36.70 and a two-hundred day simple moving average of $35.65. Archrock, Inc. has a 1 year low of $22.88 and a 1 year high of $42.23. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 1.60 and a beta of 0.86. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.39 and a quick ratio of 0.94.

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

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Archrock’s previous quarterly dividend of $0.22. Archrock’s dividend payout ratio is 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.