Creative Planning Has $465,000 Position in Archrock, Inc. (NYSE:AROC)

Creative Planning grew its holdings in Archrock, Inc. (NYSE:AROC) by 58.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,998 shares of the energy company’s stock after purchasing an additional 8,468 shares during the quarter. Creative Planning’s holdings in Archrock were worth $465,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of AROC. Allspring Global Investments Holdings LLC acquired a new position in shares of Archrock during the first quarter valued at $43,000. CWM LLC increased its holdings in Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after purchasing an additional 2,846 shares during the last quarter. GAMMA Investing LLC increased its holdings in Archrock by 16.6% in the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after purchasing an additional 578 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Archrock in the second quarter worth about $101,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Archrock by 70.6% in the first quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock worth $117,000 after acquiring an additional 2,461 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Stock Performance

AROC opened at $21.02 on Wednesday. Archrock, Inc. has a 12-month low of $12.41 and a 12-month high of $23.44. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 25.32 and a beta of 1.51. The business has a 50 day moving average of $20.01 and a 200-day moving average of $20.13. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80.

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

Archrock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.165 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.14%. Archrock’s dividend payout ratio (DPR) is currently 79.52%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AROC shares. Mizuho started coverage on Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Archrock in a research report on Wednesday, August 7th. Stifel Nicolaus upped their price objective on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup initiated coverage on Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.57.

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.