Price T Rowe Associates Inc. MD lifted its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,951 shares of the energy company's stock after purchasing an additional 14,321 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.07% of Archrock worth $2,986,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wolverine Asset Management LLC increased its position in Archrock by 111.8% during the fourth quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company's stock worth $37,000 after buying an additional 14,200 shares during the last quarter. Montag A & Associates Inc. acquired a new position in shares of Archrock during the 4th quarter valued at about $55,000. R Squared Ltd acquired a new position in shares of Archrock during the 4th quarter valued at about $76,000. Hantz Financial Services Inc. bought a new position in shares of Archrock in the 4th quarter valued at approximately $107,000. Finally, Covestor Ltd raised its stake in shares of Archrock by 580.6% in the 4th quarter. Covestor Ltd now owns 4,485 shares of the energy company's stock valued at $111,000 after acquiring an additional 3,826 shares in the last quarter. Institutional investors own 95.45% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have commented on AROC shares. Sidoti upgraded Archrock to a "hold" rating in a report on Wednesday. Citigroup lifted their target price on shares of Archrock from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.67.
Read Our Latest Stock Analysis on Archrock
Archrock Stock Performance
Archrock stock traded up $0.34 during mid-day trading on Friday, reaching $24.70. The company had a trading volume of 805,394 shares, compared to its average volume of 1,466,885. 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 firm has a market cap of $4.33 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.60 and a beta of 1.19. The company has a 50 day moving average of $24.36 and a 200-day moving average of $25.20. Archrock, Inc. has a 52 week low of $17.27 and a 52 week high of $30.44.
Archrock (NYSE:AROC - Get Free Report) last released its earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The business had revenue of $347.16 million during the quarter, compared to analysts' expectations of $342.98 million. On average, sell-side analysts expect that Archrock, Inc. will post 1.09 EPS for the current fiscal year.
Archrock Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Tuesday, May 6th. Archrock's dividend payout ratio is presently 64.41%.
Archrock announced that its board has authorized a share buyback program on Monday, May 5th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the energy company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.
About Archrock
(
Free Report)
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.
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