Corient Private Wealth LP Makes New $1.94 Million Investment in Archrock, Inc. $AROC

Corient Private Wealth LP purchased a new stake in shares of Archrock, Inc. (NYSE:AROC) in the second quarter, HoldingsChannel.com reports. The fund purchased 47,665 shares of the energy company’s stock, valued at approximately $1,940,000.

Several other hedge funds have also recently bought and sold shares of the company. Ausdal Financial Partners Inc. purchased a new stake in Archrock during the second quarter worth $846,000. Bank of America Corp DE purchased a new position in shares of Archrock in the second quarter valued at $262,070,000. Freestone Grove Partners LP purchased a new position in shares of Archrock in the second quarter valued at $1,647,000. Man Group plc acquired a new position in shares of Archrock during the 2nd quarter worth $3,515,000. Finally, Jupiter Topco LLC acquired a new position in shares of Archrock during the 2nd quarter worth $5,439,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Zacks Research lowered shares of Archrock from a “hold” rating to a “strong sell” rating in a research report on Monday. Citigroup lifted their target price on shares of Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada upped their price target on shares of Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Weiss Ratings downgraded shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Mizuho raised their price objective on shares of Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Archrock currently has an average rating of “Moderate Buy” and an average target price of $42.29.

Archrock Stock Performance

NYSE AROC opened at $32.32 on Thursday. 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 fifty-two week low of $22.88 and a fifty-two week high of $42.23. The business has a fifty day moving average of $35.52 and a 200-day moving average of $35.80. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.53 and a beta of 0.86.

Archrock (NYSE:AROC) last posted its quarterly earnings data 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 company 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 revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. As a group, analysts predict that Archrock, Inc. will post 1.73 earnings per share for the current fiscal year.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.92 annualized dividend and a dividend yield of 2.8%. This is an increase from Archrock’s previous quarterly dividend of $0.22. Archrock’s dividend payout ratio is 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.