Bank of Montreal Can Buys 5,830 Shares of Archrock, Inc. (NYSE:AROC)

Bank of Montreal Can raised its stake in Archrock, Inc. (NYSE:AROC) by 10.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,666 shares of the energy company’s stock after acquiring an additional 5,830 shares during the period. Bank of Montreal Can’s holdings in Archrock were worth $1,267,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AROC. Sei Investments Co. raised its position in shares of Archrock by 37.7% in the 4th quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock valued at $78,753,000 after buying an additional 1,399,309 shares in the last quarter. Tortoise Index Solutions LLC raised its position in Archrock by 4.8% during the fourth quarter. Tortoise Index Solutions LLC now owns 270,964 shares of the energy company’s stock valued at $4,173,000 after purchasing an additional 12,325 shares in the last quarter. Blackstone Inc. lifted its stake in Archrock by 4,211.9% during the fourth quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock worth $90,908,000 after purchasing an additional 5,766,237 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Archrock by 2.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 927,031 shares of the energy company’s stock valued at $14,276,000 after purchasing an additional 22,039 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Archrock by 171.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,332,058 shares of the energy company’s stock valued at $20,514,000 after purchasing an additional 841,366 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

Archrock Trading Up 3.1 %

AROC opened at $21.81 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. Archrock, Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $23.44. The company’s 50 day moving average price is $19.81 and its two-hundred day moving average price is $20.04. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 26.28 and a beta of 1.51.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $270.53 million for the quarter, compared to analysts’ expectations of $270.61 million. Archrock had a net margin of 13.20% and a return on equity of 16.35%. As a group, research analysts predict that Archrock, Inc. will post 1.07 earnings per share for the current year.

Archrock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a $0.165 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.03%. Archrock’s payout ratio is 79.52%.

Analyst Ratings Changes

Several brokerages recently weighed in on AROC. Evercore ISI began coverage on Archrock in a research report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target on the stock. Mizuho started coverage on shares of Archrock in a report on Wednesday. They set an “outperform” rating and a $24.00 price target on the stock. Citigroup began coverage on shares of Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.57.

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.