EFG Asset Management North America Corp. Invests $1.41 Million in Archrock, Inc. $AROC

EFG Asset Management North America Corp. acquired a new stake in shares of Archrock, Inc. (NYSE:AROC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 56,860 shares of the energy company’s stock, valued at approximately $1,412,000.

A number of other large investors also recently bought and sold shares of AROC. Invesco Ltd. lifted its holdings in Archrock by 0.8% during the first quarter. Invesco Ltd. now owns 8,951,896 shares of the energy company’s stock worth $234,898,000 after buying an additional 67,947 shares during the period. American Century Companies Inc. raised its position in shares of Archrock by 9.4% in the 1st quarter. American Century Companies Inc. now owns 5,388,964 shares of the energy company’s stock worth $141,406,000 after acquiring an additional 461,940 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Archrock by 17.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,292,302 shares of the energy company’s stock worth $60,150,000 after purchasing an additional 334,858 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Archrock by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 2,058,502 shares of the energy company’s stock valued at $51,113,000 after purchasing an additional 20,048 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its position in Archrock by 2.0% during the first quarter. Kayne Anderson Capital Advisors LP now owns 1,647,222 shares of the energy company’s stock valued at $43,223,000 after purchasing an additional 32,958 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AROC shares. Mizuho increased their price target on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Archrock in a research note on Wednesday, October 8th. Zacks Research raised shares of Archrock from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Royal Bank Of Canada raised their target price on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Evercore ISI upped their price target on Archrock from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Archrock has a consensus rating of “Buy” and a consensus price target of $31.50.

Insider Buying and Selling at Archrock

In other news, Director Jason C. Rebrook purchased 10,000 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were acquired at an average price of $24.17 per share, for a total transaction of $241,700.00. Following the purchase, the director owned 74,511 shares in the company, valued at $1,800,930.87. This trade represents a 15.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total value of $235,400.00. Following the completion of the transaction, the senior vice president directly owned 224,809 shares in the company, valued at $5,292,003.86. This represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is owned by corporate insiders.

Archrock Stock Performance

Shares of Archrock stock opened at $24.99 on Thursday. The firm has a market capitalization of $4.38 billion, a P/E ratio of 16.66, a PEG ratio of 1.29 and a beta of 1.07. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The company has a 50 day moving average price of $24.94 and a 200 day moving average price of $24.50. Archrock, Inc. has a 52 week low of $20.12 and a 52 week high of $30.44.

Archrock (NYSE:AROC) last released its earnings results on Tuesday, October 28th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Archrock had a net margin of 18.43% and a return on equity of 20.40%. The company had revenue of $382.43 million for the quarter, compared to the consensus estimate of $379.29 million. During the same quarter in the previous year, the firm earned $0.28 EPS. Archrock’s revenue was up 30.9% compared to the same quarter last year. Sell-side analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Tuesday, November 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, November 4th. Archrock’s dividend payout ratio is presently 56.00%.

Archrock Company Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.