Citigroup Inc. Has $9.05 Million Stock Position in Archrock, Inc. (NYSE:AROC)

Citigroup Inc. grew its position in Archrock, Inc. (NYSE:AROC) by 59.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 447,160 shares of the energy company’s stock after purchasing an additional 166,947 shares during the period. Citigroup Inc.’s holdings in Archrock were worth $9,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in AROC. Algert Global LLC grew its holdings 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 buying an additional 361,520 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Archrock in the third quarter valued at about $200,000. 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 acquiring an additional 45,466 shares during the period. Van ECK Associates Corp raised its stake in Archrock by 93.5% in the 3rd quarter. Van ECK Associates Corp now owns 68,251 shares of the energy company’s stock worth $1,383,000 after purchasing an additional 32,971 shares in the last quarter. Finally, Boston Partners bought a new stake in Archrock in the 1st quarter valued at about $24,875,000. Institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on AROC. Mizuho initiated coverage on shares of Archrock in a report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price on the stock. Evercore ISI started coverage on Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday. 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, Citigroup started coverage on shares of Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Archrock has a consensus rating of “Moderate Buy” and an average target price of $25.17.

Archrock Price Performance

Archrock stock opened at $25.62 on Friday. The stock has a 50-day moving average price of $22.00 and a two-hundred day moving average price of $20.69. Archrock, Inc. has a 12 month low of $14.14 and a 12 month high of $26.36. The company has a market capitalization of $4.49 billion, a PE ratio of 28.15 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last posted its earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The business had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. During the same period last year, the company earned $0.20 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. Analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.73%. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. Archrock’s dividend payout ratio is presently 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.