10,290 Shares in Archrock, Inc. $AROC Acquired by City Center Advisors LLC

Key Points

• City Center Advisors LLC purchased 10,290 shares of Archrock, Inc. valued at approximately $256,000 in the second quarter, indicating growing institutional interest in the energy company.
• Archrock's recent earnings report showed a profit of $0.39 per share, surpassing estimates, with a 41.6% increase in revenue year-over-year, highlighting strong business performance.
• The company has announced an increase in its quarterly dividend to $0.21, representing an annualized yield of 3.4% and indicating financial health and shareholder return intentions.

City Center Advisors LLC bought a new stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,290 shares of the energy company's stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AROC. Vident Advisory LLC raised its holdings in Archrock by 4.9% in the 1st quarter. Vident Advisory LLC now owns 9,032 shares of the energy company's stock worth $237,000 after purchasing an additional 420 shares during the period. Chicago Partners Investment Group LLC raised its holdings in Archrock by 1.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 38,161 shares of the energy company's stock worth $1,001,000 after purchasing an additional 521 shares during the period. Janney Montgomery Scott LLC raised its holdings in Archrock by 4.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,761 shares of the energy company's stock worth $335,000 after purchasing an additional 574 shares during the period. Ballentine Partners LLC raised its holdings in Archrock by 6.0% in the 1st quarter. Ballentine Partners LLC now owns 10,133 shares of the energy company's stock worth $266,000 after purchasing an additional 575 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Archrock by 164.8% during the first quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock valued at $26,000 after acquiring an additional 600 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Mizuho raised their price target on Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Wells Fargo & Company assumed coverage on Archrock in a report on Wednesday, September 3rd. They set an "overweight" rating and a $30.00 price target on the stock. Finally, Evercore ISI decreased their price target on Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.00.

Insider Activity

In related news, SVP Eric W. Thode sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the completion of the sale, the senior vice president owned 224,809 shares in the company, valued at approximately $5,292,003.86. The trade was a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company's stock.

Archrock Trading Up 2.3%

AROC traded up $0.55 on Thursday, hitting $24.39. The company had a trading volume of 925,503 shares, compared to its average volume of 1,426,229. The company has a market cap of $4.29 billion, a PE ratio of 18.47, a PEG ratio of 1.24 and a beta of 1.14. Archrock, Inc. has a 12-month low of $19.73 and a 12-month high of $30.44. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The business's fifty day simple moving average is $23.84 and its 200 day simple moving average is $24.38.

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

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a $0.21 dividend. The ex-dividend date was Tuesday, August 5th. This is a positive change from Archrock's previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. Archrock's dividend payout ratio (DPR) is presently 63.64%.

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.