The Manufacturers Life Insurance Company Invests $3.77 Million in Archrock, Inc. $AROC

The Manufacturers Life Insurance Company bought a new stake in shares of Archrock, Inc. (NYSE:AROC) in the second quarter, Holdings Channel.com reports. The fund bought 92,514 shares of the energy company’s stock, valued at approximately $3,766,000.

A number of other institutional investors also recently modified their holdings of the company. Valued Wealth Advisors LLC acquired a new position in Archrock in the first quarter valued at $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Archrock during the 4th quarter valued at about $27,000. Summit Securities Group LLC acquired a new stake in Archrock during the first quarter worth approximately $36,000. Jones Financial Companies Lllp increased its holdings 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 purchasing an additional 902 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Archrock in the second quarter valued at approximately $56,000. 95.45% of the stock is owned by institutional investors.

Archrock Stock Performance

Shares of AROC stock opened at $31.73 on Wednesday. The firm has a 50-day moving average of $35.65 and a 200-day moving average of $35.79. The company has a market cap of $5.56 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.52 and a beta of 0.86. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.39 and a quick ratio of 0.94. Archrock, Inc. has a one year low of $22.88 and a one year high of $42.23.

Archrock (NYSE:AROC) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The business had revenue of $371.24 million for the quarter, compared to analysts’ expectations of $393.19 million. Archrock had a net margin of 21.84% and a return on equity of 22.22%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. Equities research analysts forecast that Archrock, Inc. will post 1.73 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were given a dividend of $0.23 per share. This is a boost from Archrock’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, August 4th. Archrock’s dividend payout ratio (DPR) is 49.46%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stifel Nicolaus set a $41.00 price target on Archrock in a report on Thursday, May 7th. Royal Bank Of Canada increased their target price on shares of Archrock from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, August 17th. Evercore set a $40.00 price target on shares of Archrock in a research note on Monday, August 17th. Mizuho boosted their target price on Archrock from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings cut Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Archrock presently has a consensus rating of “Moderate Buy” and an average target price of $42.29.

Archrock Company 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.