Quarry LP Takes $52,000 Position in Archrock, Inc. (NYSE:AROC)

Quarry LP bought a new position in Archrock, Inc. (NYSE:AROC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,594 shares of the energy company’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd bought a new position in shares of Archrock in the first quarter worth about $852,000. Sei Investments Co. boosted its position in shares of Archrock by 37.7% in the fourth quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock valued at $78,753,000 after acquiring an additional 1,399,309 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Archrock by 18.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,270,818 shares of the energy company’s stock worth $24,997,000 after acquiring an additional 195,549 shares during the last quarter. BNP Paribas Financial Markets increased its position in Archrock by 77.2% during the first quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock worth $1,377,000 after acquiring an additional 30,493 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Archrock during the 1st quarter valued at $1,251,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Trading Up 3.1 %

Shares of Archrock stock opened at $21.81 on Friday. Archrock, Inc. has a 12-month low of $11.73 and a 12-month high of $23.44. The stock has a market capitalization of $3.41 billion, a P/E ratio of 26.27 and a beta of 1.51. The company has a 50-day simple moving average of $19.81 and a 200 day simple moving average of $20.03. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80.

Archrock (NYSE:AROC) last posted its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $270.53 million during 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%. Research analysts expect that Archrock, Inc. will post 1.07 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The firm also recently announced 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. This represents a $0.66 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Tuesday, August 6th. Archrock’s payout ratio is presently 79.52%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AROC. Mizuho began coverage on shares of Archrock in a research report on Wednesday. They issued an “outperform” rating and a $24.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Archrock in a research note on Friday, September 6th. They set an “overweight” rating and a $24.00 price target on the stock. Evercore ISI initiated coverage on Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of Archrock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus raised their target price on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.