Jennison Associates LLC Raises Stock Position in Archrock, Inc. (NYSE:AROC)

Jennison Associates LLC raised its holdings in Archrock, Inc. (NYSE:AROC) by 90.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 61,978 shares of the energy company’s stock after acquiring an additional 29,378 shares during the period. Jennison Associates LLC’s holdings in Archrock were worth $1,254,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Archrock by 16.6% in the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after buying an additional 578 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Archrock by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock worth $1,658,000 after purchasing an additional 710 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Archrock by 6.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock valued at $230,000 after purchasing an additional 713 shares in the last quarter. Atria Investments Inc lifted its stake in shares of Archrock by 2.3% in the 3rd quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock valued at $661,000 after purchasing an additional 746 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Archrock by 2.2% in the 2nd quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock valued at $713,000 after purchasing an additional 753 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Archrock Stock Performance

Shares of NYSE:AROC opened at $25.86 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. Archrock, Inc. has a 1 year low of $13.95 and a 1 year high of $26.36. The firm has a market capitalization of $4.53 billion, a PE ratio of 28.41 and a beta of 1.52. The business’s 50 day moving average price is $21.52 and its 200-day moving average price is $20.51.

Archrock (NYSE:AROC) last released its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 earnings per share. As a group, equities research analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.175 dividend. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a yield of 2.71%. Archrock’s dividend payout ratio is presently 76.92%.

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.