Stifel Financial Corp Purchases 7,498 Shares of Archrock, Inc. (NYSE:AROC)

Stifel Financial Corp grew its position in shares of Archrock, Inc. (NYSE:AROC) by 7.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,583 shares of the energy company’s stock after buying an additional 7,498 shares during the period. Stifel Financial Corp’s holdings in Archrock were worth $2,279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kayne Anderson Capital Advisors LP raised its stake in Archrock by 1,680.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock valued at $30,976,000 after acquiring an additional 1,444,471 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of Archrock in the third quarter valued at approximately $22,108,000. Millennium Management LLC lifted its stake in shares of Archrock by 60.3% during the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock valued at $47,389,000 after buying an additional 882,024 shares in the last quarter. American Century Companies Inc. boosted its holdings in Archrock by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after buying an additional 672,663 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new position in Archrock in the 3rd quarter worth approximately $10,939,000. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of AROC opened at $23.77 on Thursday. Archrock, Inc. has a 12-month low of $14.39 and a 12-month high of $27.05. 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 company has a market cap of $4.16 billion, a PE ratio of 26.12 and a beta of 1.59. The stock has a 50-day moving average price of $23.18 and a 200-day moving average price of $21.18.

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 business 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 business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 EPS. As a group, equities analysts forecast that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.175 per share. 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 2.94%. Archrock’s dividend payout ratio (DPR) is presently 76.92%.

Analyst Upgrades and Downgrades

AROC has been the topic of several recent research reports. Mizuho initiated coverage on Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Evercore ISI initiated coverage on Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 target price for the company. Citigroup assumed coverage on shares of Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 price target on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Archrock from $26.00 to $27.00 and gave the company 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. Based on data from MarketBeat, Archrock presently 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.