Glenmede Trust Co. NA Purchases 838 Shares of Archrock, Inc. (NYSE:AROC)

Glenmede Trust Co. NA increased its position in shares of Archrock, Inc. (NYSE:AROC) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,485 shares of the energy company’s stock after purchasing an additional 838 shares during the period. Glenmede Trust Co. NA’s holdings in Archrock were worth $637,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Archrock in the third quarter valued at about $28,000. Wolff Wiese Magana LLC purchased a new position in Archrock in the 3rd quarter worth approximately $30,000. Quarry LP purchased a new position in Archrock in the 2nd quarter worth approximately $52,000. CWM LLC boosted its stake in Archrock by 382.0% in the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock worth $73,000 after purchasing an additional 2,846 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Archrock by 16.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after buying an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AROC. JPMorgan Chase & Co. upped their target price on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Mizuho started coverage on shares of Archrock in a report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price objective for the company. Royal Bank of Canada raised 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. Evercore ISI assumed coverage on Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Citigroup started coverage on Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 price target for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Stock Up 2.1 %

Shares of AROC opened at $25.92 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 52-week low of $14.14 and a 52-week high of $26.36. The company has a market cap of $4.54 billion, a PE ratio of 28.48 and a beta of 1.59. The business has a fifty day moving average of $22.19 and a 200 day moving average of $20.77.

Archrock (NYSE:AROC) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. On average, sell-side analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a dividend of $0.175 per share. This is a positive change from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Wednesday, November 6th. Archrock’s dividend payout ratio (DPR) is currently 76.92%.

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.