Empowered Funds LLC Grows Holdings in Archrock, Inc. (NYSE:AROC)

Empowered Funds LLC raised its position in shares of Archrock, Inc. (NYSE:AROC) by 5.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,349 shares of the energy company’s stock after purchasing an additional 3,871 shares during the quarter. Empowered Funds LLC’s holdings in Archrock were worth $1,404,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in shares of Archrock by 9.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company’s stock valued at $257,000 after buying an additional 1,079 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Archrock in the first quarter valued at about $133,000. Russell Investments Group Ltd. boosted its stake in shares of Archrock by 70.6% in the first quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock worth $117,000 after acquiring an additional 2,461 shares during the period. Vanguard Group Inc. grew its position in shares of Archrock by 4.9% during the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after purchasing an additional 849,750 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in Archrock during the 1st quarter valued at approximately $210,000. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup assumed coverage on Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price target for the company. Mizuho began coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. started coverage on shares of Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, Evercore ISI assumed coverage on Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.67.

Archrock Stock Performance

Archrock stock opened at $25.73 on Friday. The company’s 50-day moving average price is $21.26 and its 200-day moving average price is $20.43. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market cap of $4.51 billion, a PE ratio of 28.27 and a beta of 1.52. Archrock, Inc. has a twelve month low of $13.95 and a twelve month high of $25.85.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $292.16 million for the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, equities research analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio is presently 76.92%.

About Archrock

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.