JPMorgan Chase & Co. Has $11.54 Million Stock Position in Archrock, Inc. $AROC

Key Points

• JPMorgan Chase & Co. boosted its Archrock stake by 17.1% in Q3 to 438,624 shares—about $11.54 million, representing 0.25% of the company.
• Analysts are largely positive with a consensus "Buy" rating and an average target of $38.14, while RBC and Citigroup recently raised their targets to $40.
• Archrock beat quarterly EPS estimates ($0.69 vs. $0.40), posted 15.5% revenue growth year-over-year, and raised its quarterly dividend to $0.22 (annualized $0.88, ~2.5% yield).

JPMorgan Chase & Co. boosted its position in Archrock, Inc. (NYSE:AROC - Free Report) by 17.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 438,624 shares of the energy company's stock after acquiring an additional 64,041 shares during the period. JPMorgan Chase & Co. owned 0.25% of Archrock worth $11,540,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in Archrock by 3.3% during the third quarter. American Century Companies Inc. now owns 6,077,999 shares of the energy company's stock worth $159,912,000 after buying an additional 191,914 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Archrock by 19.8% during the third quarter. Allianz Asset Management GmbH now owns 264,991 shares of the energy company's stock valued at $6,972,000 after buying an additional 43,872 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Archrock by 55.1% during the second quarter. Hsbc Holdings PLC now owns 121,089 shares of the energy company's stock valued at $3,049,000 after buying an additional 43,023 shares during the last quarter. Bernzott Capital Advisors increased its position in shares of Archrock by 62.3% during the third quarter. Bernzott Capital Advisors now owns 291,534 shares of the energy company's stock worth $7,670,000 after acquiring an additional 111,908 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Archrock in the 3rd quarter worth about $1,657,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AROC shares. Wall Street Zen cut shares of Archrock from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Dawson James reissued an "outperform" rating on shares of Archrock in a research note on Wednesday, February 25th. Weiss Ratings restated a "buy (b)" rating on shares of Archrock in a report on Wednesday, January 21st. Royal Bank Of Canada lifted their target price on Archrock from $32.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, March 16th. Finally, Citigroup increased their price target on Archrock from $31.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $38.14.

Archrock Price Performance

Archrock stock opened at $35.53 on Friday. Archrock, Inc. has a 52 week low of $20.12 and a 52 week high of $37.72. The company's 50 day moving average price is $33.03 and its two-hundred day moving average price is $27.81. The stock has a market cap of $6.23 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.48 and a beta of 0.87. The company has a quick ratio of 0.99, a current ratio of 1.54 and a debt-to-equity ratio of 1.62.

Archrock (NYSE:AROC - Get Free Report) last released its earnings results on Wednesday, February 25th. The energy company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.29. The company had revenue of $377.07 million during the quarter, compared to analyst estimates of $378.04 million. Archrock had a return on equity of 23.57% and a net margin of 21.63%.Archrock's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. On average, equities analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were paid a $0.22 dividend. This is a boost from Archrock's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 10th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. Archrock's dividend payout ratio is currently 48.09%.

Insider Transactions at Archrock

In other news, CAO Donna A. Henderson sold 10,413 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $36.74, for a total transaction of $382,573.62. Following the completion of the sale, the chief accounting officer directly owned 27,757 shares of the company's stock, valued at $1,019,792.18. This trade represents a 27.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

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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