The Manufacturers Life Insurance Company Has $1.71 Million Stock Position in Archrock, Inc. (NYSE:AROC)

The Manufacturers Life Insurance Company lifted its position in shares of Archrock, Inc. (NYSE:AROC) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,727 shares of the energy company’s stock after purchasing an additional 6,489 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Archrock worth $1,713,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Blackstone Inc. raised its stake in Archrock by 4,211.9% during the 4th quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock worth $90,908,000 after acquiring an additional 5,766,237 shares during the period. Boston Partners acquired a new stake in shares of Archrock during the 1st quarter worth about $24,875,000. Millennium Management LLC grew its position in Archrock by 60.3% in the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock valued at $47,389,000 after acquiring an additional 882,024 shares in the last quarter. Vanguard Group Inc. lifted its stake in Archrock by 4.9% during the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after purchasing an additional 849,750 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Archrock by 171.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,332,058 shares of the energy company’s stock valued at $20,514,000 after buying an additional 841,366 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

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

Archrock Price Performance

AROC opened at $21.19 on Friday. The firm has a 50-day moving average price of $19.84 and a 200-day moving average price of $20.08. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 25.52 and a beta of 1.51. Archrock, Inc. has a twelve month low of $12.41 and a twelve month high of $23.44. 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 issued 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. The business had revenue of $270.53 million for the quarter, compared to the consensus estimate of $270.61 million. Archrock had a net margin of 13.20% and a return on equity of 16.35%. Equities analysts expect that Archrock, Inc. will post 1.07 EPS for the current year.

Archrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Tuesday, August 6th. Archrock’s payout ratio is currently 79.52%.

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.