Verition Fund Management LLC Buys Shares of 15,508 Archrock, Inc. (NYSE:AROC)

Verition Fund Management LLC purchased a new position in Archrock, Inc. (NYSE:AROC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,508 shares of the energy company’s stock, valued at approximately $314,000.

A number of other hedge funds have also made changes to their positions in AROC. Captrust Financial Advisors acquired a new position in Archrock in the 3rd quarter valued at approximately $293,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Archrock by 56.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 572,227 shares of the energy company’s stock worth $11,582,000 after acquiring an additional 205,419 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Archrock by 18.5% during the third quarter. Public Sector Pension Investment Board now owns 358,436 shares of the energy company’s stock worth $7,255,000 after acquiring an additional 55,862 shares in the last quarter. MetLife Investment Management LLC boosted its position in Archrock by 6.5% during the third quarter. MetLife Investment Management LLC now owns 94,859 shares of the energy company’s stock valued at $1,920,000 after purchasing an additional 5,752 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its stake in Archrock by 2.7% in the third quarter. Glenmede Trust Co. NA now owns 31,485 shares of the energy company’s stock valued at $637,000 after purchasing an additional 838 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Price Performance

Shares of Archrock stock opened at $26.00 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The firm has a fifty day simple moving average of $23.00 and a 200-day simple moving average of $21.08. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 28.57 and a beta of 1.59. Archrock, Inc. has a 1-year low of $14.39 and a 1-year high of $27.05.

Archrock (NYSE:AROC) last released its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share 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 analyst estimates of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. On average, sell-side analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently announced 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 an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 2.69%. Archrock’s dividend payout ratio is presently 76.92%.

Analyst Ratings Changes

AROC has been the subject of a number of recent research reports. Mizuho began coverage on Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target for the company. Citigroup began coverage on shares of Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Evercore ISI initiated coverage on shares of Archrock in a report on Wednesday, September 25th. They set an “outperform” 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 report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Archrock has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

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.