Freestone Grove Partners LP Takes $1.65 Million Position in Archrock, Inc. $AROC

Freestone Grove Partners LP acquired a new position in shares of Archrock, Inc. (NYSE:AROC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 40,465 shares of the energy company’s stock, valued at approximately $1,647,000.

Several other large investors also recently made changes to their positions in AROC. BlackRock Inc. bought a new stake in Archrock in the 2nd quarter valued at about $1,217,511,000. Bank of New York Mellon Corp bought a new position in Archrock in the second quarter worth approximately $84,463,000. Energy Income Partners LLC bought a new position in Archrock in the second quarter worth approximately $58,510,000. Neuberger Berman Group LLC boosted its holdings in Archrock by 9,756.7% in the fourth quarter. Neuberger Berman Group LLC now owns 1,293,002 shares of the energy company’s stock worth $33,644,000 after acquiring an additional 1,279,884 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Archrock in the second quarter valued at approximately $51,617,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Archrock Price Performance

AROC stock opened at $31.25 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.94 and a current ratio of 1.39. The business has a 50-day simple moving average of $35.93 and a two-hundred day simple moving average of $35.78. The company has a market capitalization of $5.48 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 1.44 and a beta of 0.86. Archrock, Inc. has a 52-week low of $22.88 and a 52-week high of $42.23.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.38 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $393.19 million. During the same period last year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Research analysts expect that Archrock, Inc. will post 1.73 EPS for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.9%. This is an increase from Archrock’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, August 4th. Archrock’s dividend payout ratio is currently 49.46%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AROC shares. Mizuho boosted their price objective on Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Evercore set a $40.00 target price on Archrock in a report on Monday, August 17th. Wells Fargo & Company reduced their price target 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. Royal Bank Of Canada boosted their price target on shares of Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. Finally, Stifel Nicolaus set a $41.00 price objective on shares of Archrock in a report on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.29.

Archrock Company 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.