Hsbc Holdings PLC Buys Shares of 51,221 Archrock, Inc. $AROC

Hsbc Holdings PLC bought a new position in Archrock, Inc. (NYSE:AROC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 51,221 shares of the energy company’s stock, valued at approximately $2,122,000.

Several other hedge funds also recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in Archrock by 0.7% in the first quarter. Royal Bank of Canada now owns 95,866 shares of the energy company’s stock worth $2,514,000 after purchasing an additional 667 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Archrock by 217.9% during 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. EverSource Wealth Advisors LLC raised its holdings in Archrock by 482.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,699 shares of the energy company’s stock valued at $67,000 after buying an additional 2,236 shares in the last quarter. First Trust Advisors LP raised its holdings in Archrock by 24.6% during the second quarter. First Trust Advisors LP now owns 279,100 shares of the energy company’s stock valued at $6,930,000 after buying an additional 55,059 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Archrock by 19.8% in the second quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the energy company’s stock worth $241,000 after buying an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AROC. Weiss Ratings downgraded Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Mizuho boosted their target price on Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Citigroup upped their target price on Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada increased their price target on Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Finally, Stifel Nicolaus set a $41.00 price target on shares of Archrock in a research report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Archrock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.29.

Archrock Trading Up 0.0%

Shares of NYSE:AROC opened at $31.25 on Monday. The company has a market cap of $5.48 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.51 and a beta of 0.86. The stock’s 50-day moving average is $35.93 and its 200-day moving average is $35.80. Archrock, Inc. has a 52-week low of $22.88 and a 52-week high of $42.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.94 and a current ratio of 1.39.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). Archrock had a return on equity of 22.22% and a net margin of 21.84%.The business had revenue of $371.24 million for the quarter, compared to analyst estimates of $393.19 million. During the same period in the prior year, the firm posted $0.39 EPS. Archrock’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities research analysts predict that Archrock, Inc. will post 1.73 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Archrock’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, August 4th. Archrock’s dividend payout ratio 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.