Texas Permanent School Fund Corp Raises Stake in Archrock, Inc. (NYSE:AROC)

Texas Permanent School Fund Corp raised its stake in Archrock, Inc. (NYSE:AROC) by 33.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,796 shares of the energy company’s stock after buying an additional 39,605 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of Archrock worth $3,231,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Archrock by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock valued at $360,385,000 after buying an additional 849,750 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Archrock by 2.6% during the 1st quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock worth $275,536,000 after purchasing an additional 351,391 shares during the period. Blackstone Inc. grew its holdings in shares of Archrock by 4,211.9% during the 4th quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock worth $90,908,000 after purchasing an additional 5,766,237 shares during the period. Sei Investments Co. grew its holdings in shares of Archrock by 5.8% during the 1st quarter. Sei Investments Co. now owns 5,409,863 shares of the energy company’s stock worth $106,412,000 after purchasing an additional 295,998 shares during the period. Finally, Energy Income Partners LLC grew its holdings in shares of Archrock by 4.9% during the 1st quarter. Energy Income Partners LLC now owns 2,468,897 shares of the energy company’s stock worth $48,563,000 after purchasing an additional 116,298 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Archrock Stock Performance

Shares of Archrock stock opened at $19.37 on Monday. The business has a 50-day moving average of $20.17 and a 200 day moving average of $19.81. Archrock, Inc. has a 12 month low of $11.73 and a 12 month high of $23.44. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 23.34 and a beta of 1.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94.

Archrock (NYSE:AROC) last announced its earnings results on Tuesday, July 30th. The energy company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $270.53 million during the quarter, compared to analysts’ expectations of $270.61 million. Archrock had a return on equity of 16.35% and a net margin of 13.20%. As a group, sell-side analysts forecast that Archrock, Inc. will post 1.07 earnings per share for the current year.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Tuesday, August 6th. Archrock’s dividend payout ratio is currently 79.52%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AROC. JPMorgan Chase & Co. began coverage on Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 price target for the company. Stifel Nicolaus increased their price target on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price target on shares of Archrock in a report on Wednesday, August 7th. Finally, StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Archrock 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.