71,875 Shares in Archrock, Inc. (NYSE:AROC) Purchased by Seven Eight Capital LP

Seven Eight Capital LP acquired a new stake in shares of Archrock, Inc. (NYSE:AROC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 71,875 shares of the energy company’s stock, valued at approximately $1,453,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Archrock by 16.6% during the second 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Archrock by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock valued at $1,658,000 after purchasing an additional 710 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Archrock by 6.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock worth $230,000 after purchasing an additional 713 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Archrock by 2.2% in the 2nd quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock worth $713,000 after purchasing an additional 753 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Archrock by 2.0% in 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 last quarter. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AROC shares. Stifel Nicolaus lifted their price objective on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of Archrock from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. JPMorgan Chase & Co. assumed coverage on shares of Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Archrock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Archrock Stock Performance

AROC opened at $20.88 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 1.80. Archrock, Inc. has a 12-month low of $11.73 and a 12-month high of $23.44. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 25.15 and a beta of 1.51. The company’s 50 day moving average is $20.14 and its 200 day moving average is $19.84.

Archrock (NYSE:AROC) last released its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $270.53 million during the quarter, compared to analyst estimates of $270.61 million. Archrock had a net margin of 13.20% and a return on equity of 16.35%. On average, equities research analysts predict that Archrock, Inc. will post 1.07 EPS for the current year.

Archrock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Tuesday, August 6th. Archrock’s dividend payout ratio (DPR) is presently 79.52%.

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.