441,992 Shares in Archrock, Inc. $AROC Acquired by Legal & General Group Plc

Key Points

• Legal & General Group acquired 441,992 Archrock shares worth approximately $18 million, while several other institutions also added positions. Institutional investors now own 95.45% of the company.
• Archrock reported quarterly EPS of $0.38, missing the $0.45 consensus estimate, while revenue fell 3.1% year over year to $371.24 million. The company raised its quarterly dividend to $0.23, implying a 2.9% annual yield.
• Analysts remain broadly positive, with nine Buy ratings and one Hold rating and an average price target of $42.29, compared with the stock’s recent opening price of $31.25.

Legal & General Group Plc bought a new stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 441,992 shares of the energy company's stock, valued at approximately $17,993,000. Legal & General Group Plc owned approximately 0.25% of Archrock as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AROC. The Manufacturers Life Insurance Company bought a new stake in shares of Archrock in the second quarter valued at about $3,766,000. Algert Global LLC increased its position in Archrock by 85.8% during the 2nd quarter. Algert Global LLC now owns 225,040 shares of the energy company's stock valued at $9,161,000 after purchasing an additional 103,890 shares during the period. Cibc World Market Inc. purchased a new stake in shares of Archrock in the 2nd quarter worth approximately $393,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Archrock in the 2nd quarter worth approximately $338,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Archrock during the second quarter valued at approximately $7,734,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Archrock Price Performance

NYSE AROC opened at $31.25 on Monday. The firm's fifty day simple moving average is $35.93 and its two-hundred day simple moving average is $35.80. The firm has a market capitalization of $5.48 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.51 and a beta of 0.86. The company has a current ratio of 1.39, a quick ratio of 0.94 and a debt-to-equity ratio of 1.51. Archrock, Inc. has a 12-month low of $22.88 and a 12-month high of $42.23.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.07). Archrock had a return on equity of 22.22% and a net margin of 21.84%.The business had revenue of $371.24 million during the quarter, compared to analyst estimates of $393.19 million. During the same period in the previous year, the business earned $0.39 EPS. The firm's revenue for the quarter was down 3.1% compared to the same quarter last year. Analysts forecast that Archrock, Inc. will post 1.73 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. This is a boost from Archrock's previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, August 4th. Archrock's dividend payout ratio (DPR) is 49.46%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AROC. Mizuho increased their target price on Archrock from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. Citigroup upped their price objective on Archrock from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Weiss Ratings lowered Archrock from a "buy (a-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada boosted their target price on shares of Archrock from $44.00 to $46.00 and gave the stock an "outperform" rating in a report on Monday, August 17th. Finally, Stifel Nicolaus set a $41.00 price target on shares of Archrock in a research report on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Archrock currently has an average rating of "Moderate Buy" and an average target price of $42.29.

Archrock Company Profile

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock's offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company's core business activities focus on the design, manufacture, rental and sale of gas compression equipment.

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