Creative Planning Boosts Stock Holdings in Archrock, Inc. (NYSE:AROC)

Creative Planning boosted its position in Archrock, Inc. (NYSE:AROC) by 18.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,299 shares of the energy company’s stock after purchasing an additional 4,301 shares during the period. Creative Planning’s holdings in Archrock were worth $553,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AROC. Boston Partners bought a new position in shares of Archrock in the first quarter worth $24,875,000. Millennium Management LLC boosted its holdings in shares of Archrock by 60.3% in the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after acquiring an additional 882,024 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Archrock by 4.9% in the first 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 during the period. American Century Companies Inc. boosted its holdings in shares of Archrock by 20.5% in the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after acquiring an additional 672,663 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Archrock by 309.7% in the second quarter. Thrivent Financial for Lutherans now owns 528,272 shares of the energy company’s stock worth $10,682,000 after acquiring an additional 399,336 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Trading Up 1.7 %

NYSE AROC opened at $20.54 on Wednesday. The stock’s 50-day simple moving average is $20.34 and its two-hundred day simple moving average is $20.15. Archrock, Inc. has a twelve month low of $13.15 and a twelve month high of $23.44. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 23.08 and a beta of 1.52.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.175 per share. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a yield of 3.41%. Archrock’s dividend payout ratio (DPR) is presently 74.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AROC. JPMorgan Chase & Co. began coverage on Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target for the company. Evercore ISI assumed coverage on Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective for the company. Mizuho assumed coverage on Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price objective for the company. Stifel Nicolaus lifted their price objective on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price objective on Archrock from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.50.

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.