Principal Financial Group Inc. Has $17.27 Million Position in Archrock, Inc. (NYSE:AROC)

Principal Financial Group Inc. raised its position in Archrock, Inc. (NYSE:AROC) by 24.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 853,295 shares of the energy company’s stock after buying an additional 167,510 shares during the period. Principal Financial Group Inc.’s holdings in Archrock were worth $17,271,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its stake in shares of Archrock by 0.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 50,654 shares of the energy company’s stock valued at $1,025,000 after buying an additional 427 shares during the period. Atria Investments Inc increased its position in Archrock by 2.3% in the 3rd quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock valued at $661,000 after acquiring an additional 746 shares during the period. Van ECK Associates Corp raised its stake in shares of Archrock by 2.2% during the second quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock valued at $713,000 after acquiring an additional 753 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Archrock by 2.0% during the second 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 grew its stake in shares of 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. 95.45% of the stock is owned by institutional investors and hedge funds.

Archrock Price Performance

Archrock stock opened at $24.82 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. Archrock, Inc. has a 52-week low of $14.39 and a 52-week high of $27.05. The stock’s 50 day moving average price is $23.56 and its two-hundred day moving average price is $21.39. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 27.28 and a beta of 1.59.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $292.16 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, equities analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current 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 issued a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 2.82%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio is presently 76.92%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AROC shares. Citigroup assumed coverage on Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Evercore ISI began coverage on shares of Archrock in a research report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 target price for the company. Royal Bank of Canada boosted their price target 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. Finally, Mizuho initiated coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.17.

Archrock Company 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.