Eagle Asset Management Inc. Takes Position in Archrock, Inc. (NYSE:AROC)

Eagle Asset Management Inc. purchased a new stake in shares of Archrock, Inc. (NYSE:AROC) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,092,274 shares of the energy company’s stock, valued at approximately $22,108,000.

Several other large investors have also recently modified their holdings of AROC. Wolff Wiese Magana LLC bought a new position in shares of Archrock during the third quarter valued at $30,000. Quarry LP bought a new position in Archrock during the second quarter worth $52,000. CWM LLC raised its stake in Archrock by 382.0% during the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock worth $73,000 after buying an additional 2,846 shares during the last quarter. GAMMA Investing LLC raised its stake in Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after buying an additional 578 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Archrock during the second quarter worth $101,000. Institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AROC. Mizuho began coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price for the company. Evercore ISI began coverage on shares of Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Archrock in a research note on Friday, September 6th. They set an “overweight” rating and a $24.00 target price for the company. Citigroup assumed coverage on shares of Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Archrock currently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Archrock Stock Up 0.4 %

Shares of NYSE AROC opened at $25.85 on Friday. The stock has a market capitalization of $4.53 billion, a P/E ratio of 28.41 and a beta of 1.52. The company has a 50-day moving average price of $21.39 and a 200-day moving average price of $20.47. Archrock, Inc. has a 1 year low of $13.95 and a 1 year high of $26.36. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.20 earnings per share. On average, equities research analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.175 per share. This is a boost from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Wednesday, November 6th. Archrock’s dividend payout ratio (DPR) is currently 76.92%.

About Archrock

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.