Boston Partners boosted its stake in shares of Archrock Inc (NYSE:AROC) by 37.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 465,078 shares of the energy company’s stock after buying an additional 125,782 shares during the quarter. Boston Partners owned approximately 0.65% of Archrock worth $5,581,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd bought a new position in shares of Archrock in the 1st quarter worth about $103,000. WINTON GROUP Ltd bought a new position in shares of Archrock in the 1st quarter worth about $120,000. Quantbot Technologies LP bought a new position in shares of Archrock in the 1st quarter worth about $123,000. Element Capital Management LLC bought a new position in shares of Archrock in the 1st quarter worth about $127,000. Finally, Stevens Capital Management LP bought a new position in shares of Archrock in the 1st quarter worth about $132,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Doug S. Aron bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was acquired at an average cost of $11.92 per share, with a total value of $119,200.00. Following the transaction, the chief financial officer now directly owns 49,215 shares of the company’s stock, valued at approximately $586,642.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Edward Rice sold 67,554 shares of the business’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $11.70, for a total value of $790,381.80. Following the completion of the sale, the insider now directly owns 255,451 shares of the company’s stock, valued at $2,988,776.70. The disclosure for this sale can be found here. Insiders own 2.54% of the company’s stock.
Several research firms have recently weighed in on AROC. Piper Jaffray Companies reissued a “buy” rating and issued a $14.75 price objective on shares of Archrock in a research report on Tuesday, August 7th. B. Riley lifted their price objective on Archrock from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, August 6th. TheStreet raised Archrock from a “d+” rating to a “c-” rating in a research report on Wednesday, August 1st. Royal Bank of Canada reissued a “buy” rating and issued a $16.00 price objective on shares of Archrock in a research report on Friday, August 3rd. Finally, Zacks Investment Research raised Archrock from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $14.54.
Shares of Archrock stock opened at $12.00 on Friday. Archrock Inc has a one year low of $8.25 and a one year high of $13.75. The stock has a market capitalization of $1.73 billion, a P/E ratio of -60.00 and a beta of 2.92. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.35 and a quick ratio of 0.86.
Archrock (NYSE:AROC) last issued its earnings results on Thursday, August 2nd. The energy company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Archrock had a return on equity of 0.45% and a net margin of 4.19%. The business had revenue of $226.87 million during the quarter, compared to analyst estimates of $216.63 million. analysts expect that Archrock Inc will post 0.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Tuesday, August 7th were given a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 4.40%. This is a positive change from Archrock’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, August 6th. Archrock’s payout ratio is presently -265.00%.
Archrock Company Profile
Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.
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