Cerity Partners LLC Acquires 10,522 Shares of Archrock, Inc. (NYSE:AROC)

Cerity Partners LLC grew its holdings in Archrock, Inc. (NYSE:AROC) by 72.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,073 shares of the energy company’s stock after purchasing an additional 10,522 shares during the period. Cerity Partners LLC’s holdings in Archrock were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Citigroup Inc. increased its stake in Archrock by 59.6% in the 3rd quarter. Citigroup Inc. now owns 447,160 shares of the energy company’s stock valued at $9,051,000 after buying an additional 166,947 shares during the last quarter. Eagle Asset Management Inc. bought a new position in shares of Archrock in the 3rd quarter valued at about $22,108,000. Charles Schwab Investment Management Inc. increased its position in shares of Archrock by 13.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock valued at $47,034,000 after acquiring an additional 274,763 shares during the last quarter. Intech Investment Management LLC raised its holdings in Archrock by 58.7% during the third quarter. Intech Investment Management LLC now owns 59,401 shares of the energy company’s stock worth $1,202,000 after acquiring an additional 21,980 shares in the last quarter. Finally, King Luther Capital Management Corp acquired a new position in Archrock during the third quarter valued at approximately $3,363,000. Institutional investors own 95.45% of the company’s stock.

Archrock Price Performance

NYSE:AROC opened at $25.45 on Friday. The company has a market cap of $4.46 billion, a P/E ratio of 27.97 and a beta of 1.59. The firm’s fifty day moving average price is $22.51 and its two-hundred day moving average price is $20.87. Archrock, Inc. has a one year low of $14.23 and a one 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 released its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $292.16 million for 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 in the prior year, the firm earned $0.20 EPS. Equities analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors 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 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Wednesday, November 6th. Archrock’s dividend payout ratio (DPR) is presently 76.92%.

Analyst Ratings Changes

AROC has been the topic of a number of analyst reports. Citigroup began coverage on Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. 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 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Finally, Mizuho assumed coverage on shares of Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 target price on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.17.

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.