Invesco Ltd. Acquires 128,141 Shares of Archrock, Inc. $AROC

Invesco Ltd. increased its holdings in shares of Archrock, Inc. (NYSE:AROC) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,080,037 shares of the energy company’s stock after purchasing an additional 128,141 shares during the period. Invesco Ltd. owned approximately 5.16% of Archrock worth $225,457,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Panagora Asset Management Inc. bought a new position in Archrock in the second quarter valued at approximately $4,199,000. Neuberger Berman Group LLC raised its holdings in shares of Archrock by 14.1% during the second quarter. Neuberger Berman Group LLC now owns 16,794 shares of the energy company’s stock worth $417,000 after acquiring an additional 2,079 shares during the period. Norges Bank acquired a new position in Archrock in the 2nd quarter worth $3,296,000. Hsbc Holdings PLC boosted its stake in Archrock by 55.1% in the 2nd quarter. Hsbc Holdings PLC now owns 121,089 shares of the energy company’s stock worth $3,049,000 after purchasing an additional 43,023 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in Archrock by 3.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 24,398 shares of the energy company’s stock worth $606,000 after purchasing an additional 840 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Archrock Trading Down 0.8%

Shares of Archrock stock opened at $24.94 on Monday. The stock has a market cap of $4.37 billion, a P/E ratio of 16.63, a P/E/G ratio of 1.30 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.56 and a debt-to-equity ratio of 1.80. Archrock, Inc. has a 12-month low of $20.12 and a 12-month high of $30.44. The business’s 50 day moving average is $24.62 and its 200-day moving average is $24.45.

Archrock (NYSE:AROC) last issued its earnings results on Wednesday, October 29th. The energy company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Archrock had a net margin of 18.43% and a return on equity of 20.17%. The business had revenue of $382.43 million for the quarter, compared to the consensus estimate of $379.29 million. During the same period in the previous year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was up 30.9% on a year-over-year basis. Equities research analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Tuesday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. Archrock’s payout ratio is currently 56.00%.

Insider Transactions at Archrock

In other news, Director Jason C. Rebrook bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was acquired at an average cost of $23.94 per share, for a total transaction of $119,700.00. Following the purchase, the director owned 79,511 shares of the company’s stock, valued at approximately $1,903,493.34. This trade represents a 6.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Eric W. Thode sold 40,740 shares of Archrock stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $25.10, for a total value of $1,022,574.00. Following the transaction, the senior vice president owned 184,216 shares of the company’s stock, valued at $4,623,821.60. The trade was a 18.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on AROC shares. Zacks Research lowered Archrock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Evercore ISI lifted their target price on Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Mizuho upped their price target on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Archrock in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price objective on shares of Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.40.

Archrock 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.