967,004 Shares in Archrock, Inc. $AROC Bought by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC has acquired 967,004 shares of Archrock, Inc. valued at approximately $25.37 million, marking a new stake in the energy company.
• Archrock recently increased its quarterly dividend from $0.19 to $0.21 per share, indicating a yield of 3.4% and a dividend payout ratio of 63.64%.
• The company's stock received a mixed analyst outlook, with target prices set between $31.00 and $32.00 and a current average rating of "Moderate Buy."

Driehaus Capital Management LLC bought a new position in Archrock, Inc. (NYSE:AROC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 967,004 shares of the energy company's stock, valued at approximately $25,374,000. Driehaus Capital Management LLC owned 0.55% of Archrock at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in shares of Archrock by 164.8% in the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock worth $26,000 after purchasing an additional 600 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Archrock in the 1st quarter worth about $33,000. TCTC Holdings LLC lifted its position in shares of Archrock by 119.6% in the 1st quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company's stock worth $42,000 after purchasing an additional 871 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Archrock in the 1st quarter worth about $47,000. Finally, State of Wyoming purchased a new stake in shares of Archrock in the 1st quarter worth about $53,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AROC. Mizuho lifted their price target on shares of Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Sidoti upgraded shares of Archrock to a "hold" rating in a research note on Wednesday, May 7th. Evercore ISI reduced their price objective on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company started coverage on shares of Archrock in a research note on Wednesday. They set an "overweight" rating and a $30.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Archrock has an average rating of "Moderate Buy" and an average target price of $30.00.

Insider Buying and Selling at Archrock

In other Archrock news, SVP Eric W. Thode sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total value of $235,400.00. Following the completion of the transaction, the senior vice president directly owned 224,809 shares in the company, valued at $5,292,003.86. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Archrock Stock Performance

Shares of AROC stock traded up $0.28 during trading hours on Thursday, reaching $25.43. The company had a trading volume of 338,584 shares, compared to its average volume of 1,413,542. The business has a fifty day moving average price of $23.85 and a 200-day moving average price of $24.56. Archrock, Inc. has a one year low of $18.38 and a one year high of $30.44. The firm has a market cap of $4.47 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.28 and a beta of 1.14. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.30 and a current ratio of 1.81.

Archrock (NYSE:AROC - Get Free Report) last announced its earnings results on Monday, August 4th. The energy company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The business had revenue of $383.15 million during the quarter, compared to analysts' expectations of $366.34 million. During the same period in the prior year, the company earned $0.23 earnings per share. The firm's revenue was up 41.6% on a year-over-year basis. Sell-side analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given a $0.21 dividend. The ex-dividend date was Tuesday, August 5th. This is an increase from Archrock's previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. Archrock's dividend payout ratio (DPR) is currently 63.64%.

Archrock Profile

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.