Jennison Associates LLC Raises Holdings in Archrock, Inc. $AROC

Jennison Associates LLC boosted its stake in shares of Archrock, Inc. (NYSE:AROC) by 96.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,451 shares of the energy company’s stock after acquiring an additional 34,148 shares during the quarter. Jennison Associates LLC’s holdings in Archrock were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in Archrock by 217.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock valued at $35,000 after acquiring an additional 902 shares during the period. TCTC Holdings LLC boosted its holdings in Archrock by 119.6% during the 1st quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company’s stock valued at $42,000 after acquiring an additional 871 shares during the period. Bayforest Capital Ltd purchased a new stake in Archrock during the 1st quarter valued at about $47,000. State of Wyoming purchased a new stake in Archrock during the 1st quarter valued at about $53,000. Finally, Quarry LP purchased a new stake in Archrock during the 1st quarter valued at about $65,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Eric W. Thode sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 owned 224,809 shares in the company, valued at $5,292,003.86. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jason C. Rebrook bought 10,000 shares of the stock in a transaction dated Thursday, September 18th. The stock was purchased at an average price of $24.17 per share, with a total value 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 disclosure for this purchase is available in the SEC filing. Company insiders own 2.60% of the company’s stock.

Archrock Trading Down 0.5%

AROC opened at $25.28 on Friday. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.29 and a beta of 1.07. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.81 and a quick ratio of 1.30. The business has a 50 day simple moving average of $24.88 and a two-hundred day simple moving average of $24.47. Archrock, Inc. has a one year low of $19.73 and a one year high of $30.44.

Archrock (NYSE:AROC) last released its earnings results on Tuesday, October 28th. The energy company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $382.43 million during the quarter, compared to analysts’ expectations of $379.29 million. Archrock had a return on equity of 20.40% and a net margin of 18.43%.The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. Analysts predict 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. Stockholders of record on Tuesday, November 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, November 4th. Archrock’s dividend payout ratio (DPR) is presently 56.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AROC. Mizuho increased their target price on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Wells Fargo & Company began coverage on Archrock in a research report on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. Zacks Research raised Archrock from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Evercore ISI upped their price target on Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research 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 stock. According to data from MarketBeat, Archrock has an average rating of “Buy” and an average target price of $31.50.

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.