BlackRock Inc. bought a new stake in Archrock, Inc. (NYSE:AROC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 29,906,924 shares of the energy company's stock, valued at approximately $1,217,511,000. BlackRock Inc. owned about 17.06% of Archrock at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of AROC. Valued Wealth Advisors LLC bought a new stake in shares of Archrock during the 1st quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC bought a new stake in Archrock during the 4th quarter worth approximately $27,000. Summit Securities Group LLC bought a new stake in shares of Archrock in the 1st quarter valued at $36,000. Jones Financial Companies Lllp grew its stake in Archrock by 217.9% during the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company's stock worth $35,000 after purchasing an additional 902 shares during the period. Finally, Covestor Ltd increased its position in Archrock by 234.9% in the 4th quarter. Covestor Ltd now owns 1,410 shares of the energy company's stock valued at $37,000 after buying an additional 989 shares in the last quarter. Institutional investors own 95.45% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on AROC. Stifel Nicolaus set a $41.00 target price on shares of Archrock in a research note on Thursday, May 7th. Citigroup increased their target price on shares of Archrock from $40.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Evercore set a $40.00 target price on Archrock in a report on Monday. Royal Bank Of Canada lifted their price target on shares of Archrock from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Wells Fargo & Company reduced their target price on Archrock from $43.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Archrock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.29.
Get Our Latest Stock Analysis on Archrock
Archrock Trading Down 1.5%
Shares of AROC stock opened at $31.78 on Friday. The company has a 50-day moving average of $36.43 and a two-hundred day moving average of $35.75. The firm has a market cap of $5.57 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86. Archrock, Inc. has a 1-year low of $22.88 and a 1-year high of $42.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.39 and a quick ratio of 0.94.
Archrock (NYSE:AROC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). The firm had revenue of $371.24 million for the quarter, compared to analyst estimates of $393.19 million. Archrock had a return on equity of 22.22% and a net margin of 21.84%.Archrock's revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. On average, analysts predict that Archrock, Inc. will post 1.81 EPS for the current year.
Archrock Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were paid a $0.23 dividend. This is an increase from Archrock's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, August 4th. Archrock's dividend payout ratio (DPR) is presently 49.46%.
Archrock Company Profile
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Archrock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Archrock wasn't on the list.
While Archrock currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link to see MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
