Great Lakes Advisors LLC Acquires New Stake in Archrock, Inc. $AROC

Great Lakes Advisors LLC bought a new position in shares of Archrock, Inc. (NYSE:AROC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,414 shares of the energy company’s stock, valued at approximately $1,564,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Archrock by 0.7% during the first quarter. Royal Bank of Canada now owns 95,866 shares of the energy company’s stock valued at $2,514,000 after buying an additional 667 shares in the last quarter. Jones Financial Companies Lllp raised its position in Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after acquiring an additional 902 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Archrock by 482.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,699 shares of the energy company’s stock valued at $67,000 after acquiring an additional 2,236 shares during the last quarter. First Trust Advisors LP lifted its holdings in Archrock by 24.6% in the 2nd quarter. First Trust Advisors LP now owns 279,100 shares of the energy company’s stock valued at $6,930,000 after acquiring an additional 55,059 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Archrock by 19.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the energy company’s stock valued at $241,000 after purchasing an additional 1,600 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on AROC. Royal Bank Of Canada lifted their price objective on shares of Archrock from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday. Stifel Nicolaus set a $41.00 target price on shares of Archrock in a report on Thursday, May 7th. Evercore set a $40.00 price objective on Archrock in a research report on Monday. Wells Fargo & Company decreased their target price on Archrock from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings lowered Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Archrock currently has an average rating of “Moderate Buy” and an average target price of $42.29.

Archrock Price Performance

Shares of NYSE:AROC opened at $31.78 on Friday. The company’s fifty day moving average is $36.43 and its two-hundred day moving average is $35.75. The company has a quick ratio of 0.94, a current ratio of 1.39 and a debt-to-equity ratio of 1.51. Archrock, Inc. has a 12-month low of $22.88 and a 12-month high of $42.23. The company has a market cap of $5.57 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). The business had revenue of $371.24 million for the quarter, compared to analyst estimates of $393.19 million. Archrock had a net margin of 21.84% and a return on equity of 22.22%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. Equities analysts expect that Archrock, Inc. will post 1.81 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were issued a $0.23 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Archrock’s previous quarterly dividend of $0.22. Archrock’s dividend payout ratio is currently 49.46%.

Archrock Profile

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.