State Street Corp Buys 707,379 Shares of Archrock, Inc. (NYSE:AROC)

State Street Corp boosted its stake in Archrock, Inc. (NYSE:AROC) by 11.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,836,745 shares of the energy company’s stock after purchasing an additional 707,379 shares during the quarter. State Street Corp’s holdings in Archrock were worth $138,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Archrock by 6.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock worth $230,000 after buying an additional 713 shares during the period. Atria Investments Inc boosted its stake in shares of Archrock by 2.3% during the 3rd quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock worth $661,000 after purchasing an additional 746 shares during the period. Van ECK Associates Corp grew its holdings in Archrock by 2.2% during 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 last quarter. Arizona State Retirement System raised its position in Archrock by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 41,565 shares of the energy company’s stock worth $840,000 after purchasing an additional 821 shares during the period. Finally, Glenmede Trust Co. NA lifted 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 worth $637,000 after purchasing an additional 838 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Up 0.5 %

NYSE:AROC opened at $25.99 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 $14.39 and a 1-year high of $27.05. The company has a 50-day moving average of $23.00 and a 200 day moving average of $21.09. The firm has a market cap of $4.55 billion, a PE ratio of 28.56 and a beta of 1.59.

Archrock (NYSE:AROC) last announced its quarterly earnings results 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 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 company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, research analysts anticipate 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. Stockholders of record on Wednesday, November 6th were issued a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is an increase from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.69%. Archrock’s dividend payout ratio (DPR) is currently 76.92%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AROC. Mizuho initiated 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 initiated coverage on shares of Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 target price for the company. Evercore ISI began coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Finally, Royal Bank of Canada raised their target price on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

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.