Connor Clark & Lunn Investment Management Ltd. Buys Shares of 1,267,924 Archrock, Inc. $AROC

Key Points

• Connor Clark & Lunn Investment Management bought 1,267,924 Archrock shares worth approximately $51.6 million, giving it a 0.72% stake. Institutional investors collectively own 95.45% of the company.
• Analysts maintain a favorable outlook, with nine Buy ratings and one Hold rating. Archrock has a consensus “Moderate Buy” rating and an average price target of $42.29.
• Archrock reported quarterly EPS of $0.38, below the $0.45 consensus, while revenue fell 3.1% year over year to $371.24 million. The company raised its quarterly dividend to $0.23, equivalent to a 3.0% annualized yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Archrock, Inc. (NYSE:AROC - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 1,267,924 shares of the energy company's stock, valued at approximately $51,617,000. Connor Clark & Lunn Investment Management Ltd. owned 0.72% of Archrock at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Valued Wealth Advisors LLC acquired a new position in Archrock during the first quarter worth $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in Archrock in the fourth quarter valued at $27,000. Jones Financial Companies Lllp increased its position in shares of Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company's stock valued at $35,000 after buying an additional 902 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Archrock in the first quarter valued at $36,000. Finally, Covestor Ltd raised its stake in shares of Archrock by 234.9% during the 4th quarter. Covestor Ltd now owns 1,410 shares of the energy company's stock worth $37,000 after buying an additional 989 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Archrock from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Monday, August 17th. Mizuho raised their price objective on shares of Archrock from $38.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 3rd. Wells Fargo & Company cut their price objective on Archrock from $43.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, August 6th. Stifel Nicolaus set a $41.00 target price on Archrock in a research note on Thursday, May 7th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $46.00 target price on shares of Archrock in a report on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Archrock presently has a consensus rating of "Moderate Buy" and an average price target of $42.29.

Archrock Stock Performance

Shares of NYSE AROC opened at $30.73 on Tuesday. The company has a 50-day simple moving average of $36.32 and a 200-day simple moving average of $35.80. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.39 and a quick ratio of 0.94. The company has a market cap of $5.39 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. 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 announced its earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%.The firm's revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. On average, equities analysts anticipate that Archrock, Inc. will post 1.81 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were given 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 dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 4th. Archrock's dividend payout ratio (DPR) is presently 49.46%.

Archrock 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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