Daiwa Securities Group Inc. Makes New $103,000 Investment in Archrock, Inc. (NYSE:AROC)

Daiwa Securities Group Inc. purchased a new stake in shares of Archrock, Inc. (NYSE:AROC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,100 shares of the energy company’s stock, valued at approximately $103,000.

Other institutional investors have also recently bought and sold shares of the company. Kayne Anderson Capital Advisors LP increased its position in Archrock by 1,680.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock worth $30,976,000 after buying an additional 1,444,471 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Archrock during the 3rd quarter worth about $22,108,000. Millennium Management LLC increased its holdings in shares of Archrock by 60.3% during the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock valued at $47,389,000 after acquiring an additional 882,024 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Archrock by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock valued at $80,036,000 after acquiring an additional 672,663 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Archrock by 309.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 528,272 shares of the energy company’s stock worth $10,682,000 after purchasing an additional 399,336 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AROC. Citigroup assumed coverage on Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 price target on the stock. Royal Bank of Canada upped their price target on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Evercore ISI initiated 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. raised their target price on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday. Finally, Mizuho started coverage on Archrock in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Archrock presently has a consensus rating of “Moderate Buy” and an average target price of $25.17.

Archrock Trading Up 2.8 %

Shares of AROC opened at $25.62 on Monday. The stock’s 50-day moving average price is $22.00 and its 200 day moving average price is $20.70. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a 12-month low of $14.14 and a 12-month high of $26.36. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 28.15 and a beta of 1.52.

Archrock (NYSE:AROC) last issued its earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. During the same period in the prior year, the company posted $0.20 earnings per share. Archrock’s revenue was up 15.3% on a year-over-year basis. As a group, research analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a $0.175 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a yield of 2.73%. This is a boost from Archrock’s previous quarterly dividend of $0.17. Archrock’s payout ratio is presently 76.92%.

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.