Amalgamated Bank Purchases 7,437 Shares of Archrock, Inc. (NYSE:AROC)

Amalgamated Bank grew its holdings in shares of Archrock, Inc. (NYSE:AROC) by 17.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,513 shares of the energy company’s stock after acquiring an additional 7,437 shares during the period. Amalgamated Bank’s holdings in Archrock were worth $1,002,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AROC. Wolff Wiese Magana LLC acquired a new stake in shares of Archrock during the 3rd quarter worth approximately $30,000. Allspring Global Investments Holdings LLC bought a new position in Archrock in the first quarter worth approximately $43,000. Quarry LP acquired a new stake in Archrock in the second quarter valued at approximately $52,000. CWM LLC increased its holdings in shares of Archrock by 382.0% during the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after acquiring an additional 2,846 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares during the period. 95.45% of the stock is owned by institutional investors.

Archrock Price Performance

AROC opened at $23.26 on Friday. Archrock, Inc. has a fifty-two week low of $13.89 and a fifty-two week high of $24.71. The firm has a 50-day moving average of $20.76 and a 200 day moving average of $20.29. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. The firm has a market cap of $3.93 billion, a P/E ratio of 25.36 and a beta of 1.52.

Archrock (NYSE:AROC) last released its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 18.12%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. On average, research analysts expect that Archrock, Inc. will post 1.13 EPS for the current year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a $0.175 dividend. The ex-dividend date was Wednesday, November 6th. This is a positive change from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 3.01%. Archrock’s payout ratio is presently 76.92%.

Wall Street Analysts Forecast Growth

AROC has been the topic of several recent research reports. Stifel Nicolaus raised their price target on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI initiated coverage on Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price for the company. Citigroup assumed coverage on shares of Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Archrock Company Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.