Geode Capital Management LLC lifted its stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 16.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,794,981 shares of the energy company's stock after purchasing an additional 523,825 shares during the period. Geode Capital Management LLC owned 2.17% of Archrock worth $76,826,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Barclays PLC raised its position in Archrock by 124.2% during the third quarter. Barclays PLC now owns 302,610 shares of the energy company's stock worth $6,125,000 after acquiring an additional 167,648 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Archrock in the 3rd quarter valued at about $314,000. Algert Global LLC lifted its stake in Archrock by 175.7% in the 2nd quarter. Algert Global LLC now owns 567,240 shares of the energy company's stock valued at $11,470,000 after purchasing an additional 361,520 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Archrock during the third quarter worth about $200,000. Finally, Quest Partners LLC increased its position in Archrock by 145.8% during the second quarter. Quest Partners LLC now owns 76,650 shares of the energy company's stock worth $1,550,000 after buying an additional 45,466 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.
A number of analysts have recently issued reports on AROC shares. Evercore ISI began coverage on Archrock in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Archrock from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, November 29th. Citigroup started coverage on shares of Archrock in a research report on Friday, September 27th. They issued a "buy" rating and a $24.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of Archrock from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. Finally, Mizuho assumed coverage on shares of Archrock in a research note on Wednesday, October 2nd. They issued an "outperform" rating and a $24.00 price target on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.17.
View Our Latest Research Report on AROC
AROC opened at $24.55 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The stock has a fifty day moving average of $23.35 and a 200-day moving average of $21.25. Archrock, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $27.05. The company has a market capitalization of $4.30 billion, a P/E ratio of 26.98 and a beta of 1.59.
Archrock (NYSE:AROC - Get Free Report) last posted 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. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The firm had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Archrock's previous quarterly dividend of $0.17. Archrock's dividend payout ratio (DPR) is 76.92%.
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.
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