Summit Wealth Group LLC Co. Purchases 39,114 Shares of Archrock, Inc. $AROC

Key Points

• Summit Wealth Group bought 39,114 Archrock shares in the third quarter, valued at approximately $1.185 million. Institutional investors collectively own 95.45% of the company.
• Analysts give Archrock a consensus “Moderate Buy” rating and a $42.12 average price target; nine rate it Buy and one Sell.
• Archrock reported quarterly EPS of $0.49, beating estimates of $0.45, but revenue of $370.81 million fell short of forecasts and declined 3% year over year. The company also announced a $0.23 quarterly dividend.

Summit Wealth Group LLC Co. purchased a new position in shares of Archrock, Inc. (NYSE:AROC - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 39,114 shares of the energy company's stock, valued at approximately $1,185,000.

Other institutional investors also recently modified their holdings of the company. Valued Wealth Advisors LLC acquired a new stake in Archrock in the first quarter valued at $26,000. Summit Securities Group LLC bought a new position in Archrock during the 1st quarter worth $36,000. Northwestern Mutual Wealth Management Co. bought a new position in Archrock during the 2nd quarter worth $56,000. Public Employees Retirement System of Ohio acquired a new position in Archrock during the 2nd quarter worth about $83,000. Finally, Allworth Financial LP acquired a new position in Archrock during the 2nd quarter worth about $119,000. Institutional investors own 95.45% of the company's stock.

Analyst Ratings Changes

AROC has been the subject of a number of analyst reports. Wells Fargo & Company lowered 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. Royal Bank Of Canada lifted their price objective on Archrock from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Monday, August 17th. Evercore set a $40.00 target price on Archrock in a report on Monday, August 17th. JPMorgan Chase & Co. decreased their target price on shares of Archrock from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, October 8th. Finally, Zacks Research downgraded shares of Archrock from a "hold" rating to a "strong sell" rating in a research report on Monday, August 31st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $42.12.

Archrock Price Performance

AROC stock opened at $31.52 on Wednesday. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.47 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 1.39 and a debt-to-equity ratio of 1.51. Archrock, Inc. has a 12-month low of $22.88 and a 12-month high of $42.23. The company's fifty day simple moving average is $30.87 and its 200 day simple moving average is $34.08.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The energy company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.04. Archrock had a return on equity of 22.61% and a net margin of 22.89%. The firm had revenue of $370.81 million during the quarter, compared to the consensus estimate of $385.95 million. During the same period last year, the business posted $0.42 EPS. The business's revenue was down 3.0% compared to the same quarter last year. On average, analysts expect that Archrock, Inc. will post 1.72 earnings per share for the current year.

Archrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Tuesday, November 3rd will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, November 3rd. Archrock's payout ratio is currently 49.46%.

Archrock Profile

Archrock, Inc NYSE: AROC is a Houston-based energy infrastructure company that provides natural gas compression services in the United States. Compression is used to increase the pressure of natural gas so it can move efficiently through gathering systems, processing facilities, transmission pipelines and other midstream infrastructure.

The company operates a fleet of natural gas compressors and primarily serves customers through contract compression arrangements. Its services support a range of applications, including natural gas gathering, processing, transmission, storage and production.

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