Castleark Management LLC Takes Position in Archrock, Inc. $AROC

Castleark Management LLC purchased a new position in shares of Archrock, Inc. (NYSE:AROC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 41,660 shares of the energy company’s stock, valued at approximately $1,696,000.

A number of other hedge funds also recently modified their holdings of AROC. Valued Wealth Advisors LLC purchased a new position in Archrock in the first quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in Archrock in the fourth quarter worth $27,000. Jones Financial Companies Lllp increased 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 buying an additional 902 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Archrock in the first quarter valued at $36,000. Finally, Covestor Ltd raised its stake in shares of Archrock by 234.9% in the fourth quarter. Covestor Ltd now owns 1,410 shares of the energy company’s stock valued at $37,000 after buying an additional 989 shares during the period. Institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AROC. Stifel Nicolaus set a $41.00 price target on Archrock in a research report on Thursday, May 7th. Evercore set a $40.00 price objective on Archrock in a research note 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. 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 report on Monday, August 17th. Finally, Mizuho lifted their target price 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.29.

Archrock Trading Up 3.1%

NYSE:AROC opened at $31.65 on Thursday. Archrock, Inc. has a 1 year low of $22.88 and a 1 year high of $42.23. The stock’s fifty day moving average price is $36.14 and its two-hundred day moving average price is $35.81. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.39 and a quick ratio of 0.94. The company has a market cap of $5.55 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.42 and a beta of 0.86.

Archrock (NYSE:AROC) last announced 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 company had revenue of $371.24 million during 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%. Archrock’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, analysts expect that Archrock, Inc. will post 1.81 EPS for the current year.

Archrock Increases Dividend

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

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.