Thrivent Financial for Lutherans Purchases 218,048 Shares of Archrock, Inc. (NYSE:AROC)

Thrivent Financial for Lutherans lifted its holdings in Archrock, Inc. (NYSE:AROC) by 41.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 746,320 shares of the energy company’s stock after buying an additional 218,048 shares during the period. Thrivent Financial for Lutherans’ holdings in Archrock were worth $15,106,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC acquired a new stake in shares of Archrock during the 3rd quarter worth approximately $30,000. Quarry LP acquired a new stake in Archrock in the second quarter worth $52,000. CWM LLC increased its stake in Archrock by 382.0% in the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after purchasing an additional 2,846 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after purchasing an additional 578 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Archrock during the 2nd quarter worth about $101,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Trading Down 0.9 %

Shares of AROC opened at $24.32 on Thursday. Archrock, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $24.71. The business has a 50-day moving average of $21.15 and a 200 day moving average of $20.41. The firm has a market cap of $4.26 billion, a P/E ratio of 26.72 and a beta of 1.52. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26.

Archrock (NYSE:AROC) last posted its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. As a group, research analysts forecast that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a dividend of $0.175 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 2.88%. This is a boost from Archrock’s previous quarterly dividend of $0.17. Archrock’s payout ratio is currently 76.92%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. assumed coverage on Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective for the company. Citigroup assumed coverage on Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 target price on the stock. Evercore ISI began coverage on Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Archrock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

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.