Great Lakes Advisors LLC Makes New Investment in Archrock, Inc. $AROC

Great Lakes Advisors LLC purchased a new position in shares of Archrock, Inc. (NYSE:AROC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 38,414 shares of the energy company’s stock, valued at approximately $1,564,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AROC. Valued Wealth Advisors LLC bought a new position in Archrock during the first quarter valued at about $26,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Archrock in the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp lifted its stake 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 worth $35,000 after buying an additional 902 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Archrock in the first quarter worth $36,000. Finally, Covestor Ltd boosted its holdings 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 period. Institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

AROC has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their target price on shares of Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company lowered their price target on shares of Archrock from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Weiss Ratings downgraded Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Stifel Nicolaus set a $41.00 price target on Archrock in a research note on Thursday, May 7th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $46.00 target price on shares of Archrock in a report on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Archrock currently has an average rating of “Moderate Buy” and an average price target of $42.29.

Archrock Stock Performance

Shares of Archrock stock opened at $31.78 on Friday. The firm has a fifty day moving average of $36.43 and a two-hundred day moving average of $35.75. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.94 and a current ratio of 1.39. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.49 and a beta of 0.86. Archrock, Inc. has a 52 week low of $22.88 and a 52 week high of $42.23.

Archrock (NYSE:AROC) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). Archrock had a net margin of 21.84% and a return on equity of 22.22%. The company had revenue of $371.24 million during the quarter, compared to the consensus estimate of $393.19 million. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities research analysts predict that Archrock, Inc. will post 1.81 EPS for the current year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This is a boost from Archrock’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.9%. Archrock’s payout ratio is currently 49.46%.

About Archrock

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.