Moran Wealth Management LLC Raises Stock Position in Archrock, Inc. (NYSE:AROC)

Moran Wealth Management LLC grew its position in Archrock, Inc. (NYSE:AROC) by 45.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,039 shares of the energy company’s stock after buying an additional 7,565 shares during the period. Moran Wealth Management LLC’s holdings in Archrock were worth $487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Algert Global LLC increased its position in shares of Archrock by 175.7% during the 2nd quarter. Algert Global LLC now owns 567,240 shares of the energy company’s stock worth $11,470,000 after purchasing an additional 361,520 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Archrock during the third quarter valued at about $200,000. Quest Partners LLC increased its position in shares of Archrock by 145.8% during the second quarter. Quest Partners LLC now owns 76,650 shares of the energy company’s stock valued at $1,550,000 after acquiring an additional 45,466 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Archrock by 93.5% in the 3rd quarter. Van ECK Associates Corp now owns 68,251 shares of the energy company’s stock valued at $1,383,000 after acquiring an additional 32,971 shares during the period. Finally, Boston Partners acquired a new position in shares of Archrock in the 1st quarter worth approximately $24,875,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analysts Set New Price Targets

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

Archrock Price Performance

AROC stock opened at $25.85 on Friday. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 28.41 and a beta of 1.52. Archrock, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $26.36. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average price of $21.39 and a 200 day moving average price of $20.47.

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

Archrock Increases Dividend

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

Archrock Company 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.