City Center Advisors LLC Buys Shares of 10,290 Archrock, Inc. $AROC

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

Other large investors have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky raised its position in Archrock by 34.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company's stock valued at $1,457,000 after purchasing an additional 14,200 shares during the last quarter. KBC Group NV raised its position in Archrock by 13.2% in the first quarter. KBC Group NV now owns 8,030 shares of the energy company's stock valued at $211,000 after purchasing an additional 937 shares during the last quarter. GAMMA Investing LLC raised its position in Archrock by 26.7% in the first quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company's stock valued at $239,000 after purchasing an additional 1,917 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Archrock by 53.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company's stock valued at $725,000 after purchasing an additional 9,594 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Archrock in the first quarter valued at about $522,000. 95.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AROC. Evercore ISI dropped their target price on Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Mizuho raised their price objective on Archrock from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Finally, Wells Fargo & Company started coverage on Archrock in a research report on Wednesday, September 3rd. They set an "overweight" rating and a $30.00 price objective for the company. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Archrock has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

Archrock Price Performance

Shares of AROC opened at $24.41 on Friday. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.28 and a beta of 1.14. The business has a 50-day moving average of $23.83 and a 200-day moving average of $24.44. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.81 and a quick ratio of 1.30. Archrock, Inc. has a 1 year low of $19.23 and a 1 year high of $30.44.

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

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were issued 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 yield of 3.4%. Archrock's dividend payout ratio is presently 63.64%.

Insiders Place Their Bets

In other Archrock news, SVP Eric W. Thode sold 10,000 shares of Archrock 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 directly 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 SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company's stock.

Archrock Company 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.

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