Aristeia Capital L.L.C. Acquires Shares of 25,576 Archrock, Inc. (NYSE:AROC)

Aristeia Capital L.L.C. bought a new position in shares of Archrock, Inc. (NYSE:AROC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 25,576 shares of the energy company’s stock, valued at approximately $517,000.

A number of other institutional investors have also recently modified their holdings of AROC. Blackstone Inc. raised its holdings in Archrock by 4,211.9% in the 4th 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 period. Sei Investments Co. raised its stake in shares of Archrock by 37.7% during the 4th quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock worth $78,753,000 after buying an additional 1,399,309 shares during the period. Boston Partners purchased a new position in shares of Archrock during the 1st quarter valued at approximately $24,875,000. Norges Bank acquired a new stake in Archrock in the 4th quarter valued at $15,958,000. Finally, Vanguard Group Inc. increased its holdings in Archrock by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after acquiring an additional 849,750 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on AROC. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Archrock in a report on Wednesday, August 7th. 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. started coverage on Archrock in a research note on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, Stifel Nicolaus raised their target price on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Archrock Stock Performance

AROC opened at $21.19 on Tuesday. Archrock, Inc. has a twelve month low of $11.73 and a twelve month high of $23.44. The firm has a market capitalization of $3.31 billion, a PE ratio of 25.52 and a beta of 1.51. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 1.80. The firm’s 50-day moving average price is $20.10 and its 200 day moving average price is $19.90.

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

Archrock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.12%. Archrock’s dividend payout ratio is currently 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.