Spire Wealth Management Boosts Stock Position in Archrock, Inc. (NYSE:AROC)

Spire Wealth Management grew its position in Archrock, Inc. (NYSE:AROC) by 396.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 55,657 shares of the energy company’s stock after buying an additional 44,450 shares during the period. Spire Wealth Management’s holdings in Archrock were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its position in Archrock by 11.5% during the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock worth $138,376,000 after acquiring an additional 707,379 shares during the period. Geode Capital Management LLC grew its stake in Archrock by 16.0% in the third quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock valued at $76,826,000 after purchasing an additional 523,825 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Archrock by 13.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,323,820 shares of the energy company’s stock valued at $47,034,000 after purchasing an additional 274,763 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its stake in Archrock by 1,680.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock valued at $30,976,000 after purchasing an additional 1,444,471 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new stake in shares of Archrock during the 3rd quarter worth about $22,108,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AROC shares. Royal Bank of Canada increased their target price on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Trading Up 2.0 %

Shares of AROC opened at $28.65 on Tuesday. Archrock, Inc. has a 1 year low of $15.65 and a 1 year high of $30.44. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The stock has a 50 day simple moving average of $26.43 and a 200-day simple moving average of $22.77. The stock has a market cap of $5.02 billion, a PE ratio of 31.48, a PEG ratio of 1.70 and a beta of 1.58.

Archrock (NYSE:AROC) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share 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 firm had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. During the same period last year, the firm posted $0.20 EPS. The business’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts predict that Archrock, Inc. will post 1.12 EPS for the current fiscal year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.65%. This is a positive change from Archrock’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, February 12th. Archrock’s dividend payout ratio (DPR) is presently 83.52%.

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.