Exchange Traded Concepts LLC Increases Stock Position in Archrock, Inc. (NYSE:AROC)

Exchange Traded Concepts LLC grew its stake in shares of Archrock, Inc. (NYSE:AROC) by 38.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 353,341 shares of the energy company’s stock after buying an additional 98,560 shares during the period. Exchange Traded Concepts LLC owned 0.23% of Archrock worth $7,152,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Archrock by 16.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Archrock by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock worth $1,658,000 after purchasing an additional 710 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Archrock by 6.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock worth $230,000 after purchasing an additional 713 shares during the period. Van ECK Associates Corp boosted its position in Archrock by 2.2% during the 2nd quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock worth $713,000 after purchasing an additional 753 shares during the period. Finally, Arizona State Retirement System boosted its position in Archrock by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 41,565 shares of the energy company’s stock worth $840,000 after purchasing an additional 821 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AROC has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. initiated coverage on shares of Archrock in a research report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price objective for the company. Citigroup assumed coverage on shares of Archrock in a research report on Friday, September 27th. They issued a “buy” rating and a $24.00 price objective for the company. Evercore ISI assumed coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $22.00 target price on shares of Archrock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Archrock has an average rating of “Moderate Buy” and a consensus price target of $22.57.

Archrock Trading Up 0.9 %

Archrock stock opened at $21.38 on Monday. The firm has a 50 day simple moving average of $19.90 and a 200-day simple moving average of $20.10. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. The stock has a market capitalization of $3.34 billion, a PE ratio of 25.76 and a beta of 1.51. Archrock, Inc. has a 12-month low of $12.41 and a 12-month high of $23.44.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $270.53 million during the quarter, compared to analysts’ expectations of $270.61 million. Archrock had a net margin of 13.20% and a return on equity of 16.35%. As a group, equities research analysts expect that Archrock, Inc. will post 1.07 EPS for the current fiscal year.

Archrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Tuesday, August 6th. Archrock’s dividend payout ratio (DPR) is presently 79.52%.

Archrock 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.