Jennison Associates LLC Acquires 29,378 Shares of Archrock, Inc. (NYSE:AROC)

Jennison Associates LLC lifted its stake in Archrock, Inc. (NYSE:AROCFree Report) by 90.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,978 shares of the energy company’s stock after purchasing an additional 29,378 shares during the period. Jennison Associates LLC’s holdings in Archrock were worth $1,254,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AROC. Algert Global LLC grew its stake in Archrock by 175.7% in the 2nd quarter. Algert Global LLC now owns 567,240 shares of the energy company’s stock worth $11,470,000 after acquiring an additional 361,520 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Archrock during the 3rd quarter worth $200,000. Quest Partners LLC raised its position in Archrock by 145.8% during the 2nd quarter. Quest Partners LLC now owns 76,650 shares of the energy company’s stock valued at $1,550,000 after purchasing an additional 45,466 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Archrock by 93.5% in the 3rd quarter. Van ECK Associates Corp now owns 68,251 shares of the energy company’s stock worth $1,383,000 after buying an additional 32,971 shares during the period. Finally, Boston Partners bought a new position in shares of Archrock during the 1st quarter worth $24,875,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AROC. Evercore ISI began coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. started coverage on shares of Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 price objective for the company. Citigroup began coverage on Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 target price on the stock. Finally, Mizuho initiated coverage on Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.67.

Check Out Our Latest Analysis on AROC

Archrock Stock Performance

Shares of AROC stock opened at $25.86 on Friday. Archrock, Inc. has a 12-month low of $13.95 and a 12-month high of $26.36. The business’s fifty day simple moving average is $21.52 and its 200-day simple moving average is $20.51. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The company has a market cap of $4.53 billion, a PE ratio of 28.41 and a beta of 1.52.

Archrock (NYSE:AROCGet Free Report) last announced its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $292.16 million for the quarter, compared to analyst estimates of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. Analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Wednesday, November 6th. This is an increase from Archrock’s previous quarterly dividend of $0.17. Archrock’s payout ratio is currently 76.92%.

About Archrock

(Free Report)

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.

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Institutional Ownership by Quarter for Archrock (NYSE:AROC)

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