Macquarie Group Ltd. bought a new position in Archrock, Inc. (NYSE:AROC) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 54,848 shares of the energy company’s stock, valued at approximately $688,000. Macquarie Group Ltd. owned approximately 0.08% of Archrock as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of AROC. Piedmont Investment Advisors LLC acquired a new stake in shares of Archrock in the second quarter valued at about $175,000. Russell Investments Group Ltd. increased its stake in shares of Archrock by 32.7% in the second quarter. Russell Investments Group Ltd. now owns 293,213 shares of the energy company’s stock valued at $3,344,000 after buying an additional 72,202 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Archrock by 127.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,002,314 shares of the energy company’s stock worth $11,427,000 after purchasing an additional 561,671 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its stake in Archrock by 312.1% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 215,426 shares of the energy company’s stock worth $2,456,000 after purchasing an additional 163,149 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Archrock by 1.8% during the second quarter. Principal Financial Group Inc. now owns 570,136 shares of the energy company’s stock worth $6,499,000 after purchasing an additional 9,951 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on AROC shares. Zacks Investment Research cut Archrock from a “hold” rating to a “strong sell” rating in a research note on Friday, November 10th. BidaskClub lowered Archrock from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 11th. Royal Bank of Canada upgraded Archrock from a “sector perform” rating to an “outperform” rating and set a $13.00 price target on the stock in a report on Monday, August 21st. Finally, Scotiabank reiterated a “hold” rating and issued a $14.00 price target on shares of Archrock in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $13.29.
Archrock (NYSE:AROC) last announced its quarterly earnings results on Thursday, November 2nd. The energy company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). The company had revenue of $197.85 million during the quarter, compared to analysts’ expectations of $202.34 million. Archrock had a negative net margin of 8.62% and a negative return on equity of 2.93%. Archrock’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. equities research analysts predict that Archrock, Inc. will post -0.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend was Tuesday, November 7th. Archrock’s dividend payout ratio (DPR) is presently -48.98%.
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Archrock Company Profile
Archrock, Inc is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
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