State Street Corp Purchases 707,379 Shares of Archrock, Inc. (NYSE:AROC)

State Street Corp lifted its holdings in Archrock, Inc. (NYSE:AROC) by 11.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,836,745 shares of the energy company’s stock after buying an additional 707,379 shares during the quarter. State Street Corp owned approximately 3.90% of Archrock worth $138,376,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AROC. Stifel Financial Corp raised its position in shares of Archrock by 7.1% in the 3rd quarter. Stifel Financial Corp now owns 112,583 shares of the energy company’s stock worth $2,279,000 after purchasing an additional 7,498 shares during the last quarter. Millburn Ridgefield Corp bought a new position in shares of Archrock in the third quarter worth approximately $50,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Archrock during the third quarter valued at approximately $10,939,000. HighTower Advisors LLC raised its holdings in Archrock by 5.9% in the 3rd quarter. HighTower Advisors LLC now owns 132,509 shares of the energy company’s stock worth $2,675,000 after acquiring an additional 7,359 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of Archrock during the third quarter valued at $632,000. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AROC has been the subject of a number of research analyst reports. Citigroup started coverage on shares of Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price target for the company. Mizuho began coverage on Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. Evercore ISI initiated coverage on Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 target price on the stock. Royal Bank of Canada boosted their price target on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. upped their price target 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.17.

Archrock Stock Up 0.5 %

NYSE AROC opened at $25.99 on Friday. Archrock, Inc. has a 52 week low of $14.39 and a 52 week high of $27.05. 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 company has a market capitalization of $4.55 billion, a P/E ratio of 28.56 and a beta of 1.59. The stock’s 50-day moving average price is $23.00 and its 200-day moving average price is $21.09.

Archrock (NYSE:AROC) last released its earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company 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 firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 EPS. On average, equities research analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.175 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 2.69%. This is an increase from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio 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.