Russell Investments Group Ltd. Acquires New Holdings in Archrock Inc (NYSE:AROC)

Russell Investments Group Ltd. bought a new stake in Archrock Inc (NYSE:AROC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,487 shares of the energy company’s stock, valued at approximately $95,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AROC. BlackRock Inc. raised its stake in shares of Archrock by 4.2% in the 2nd quarter. BlackRock Inc. now owns 20,991,569 shares of the energy company’s stock valued at $222,511,000 after acquiring an additional 841,994 shares during the period. Vanguard Group Inc. boosted its position in shares of Archrock by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,494,728 shares of the energy company’s stock worth $164,244,000 after purchasing an additional 444,348 shares during the period. Invesco Ltd. boosted its position in shares of Archrock by 1,041.3% during the 2nd quarter. Invesco Ltd. now owns 7,928,721 shares of the energy company’s stock worth $84,044,000 after purchasing an additional 7,234,028 shares during the period. Bank of America Corp DE increased its holdings in Archrock by 13.1% in the 2nd quarter. Bank of America Corp DE now owns 3,216,878 shares of the energy company’s stock valued at $34,099,000 after purchasing an additional 372,020 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Archrock by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,959,020 shares of the energy company’s stock valued at $31,365,000 after purchasing an additional 151,113 shares during the last quarter. 75.61% of the stock is currently owned by institutional investors.

A number of research analysts have commented on the company. B. Riley set a $17.00 price target on Archrock and gave the stock a “buy” rating in a research note on Monday, September 30th. Zacks Investment Research upgraded Archrock from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd.

In other Archrock news, CEO D Bradley Childers bought 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were purchased at an average cost of $0.90 per share, with a total value of $225,000.00. Insiders purchased 261,110 shares of company stock valued at $324,823 in the last 90 days. Company insiders own 1.99% of the company’s stock.

AROC opened at $8.50 on Friday. The stock’s 50-day moving average price is $9.16 and its 200 day moving average price is $9.63. Archrock Inc has a 12-month low of $7.26 and a 12-month high of $11.43. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 17.71 and a beta of 2.80. The company has a current ratio of 1.51, a quick ratio of 1.04 and a debt-to-equity ratio of 1.74.

Archrock (NYSE:AROC) last issued its quarterly earnings results on Monday, October 28th. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The business had revenue of $244.95 million for the quarter, compared to analysts’ expectations of $251.90 million. Archrock had a return on equity of 7.68% and a net margin of 6.74%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. On average, research analysts forecast that Archrock Inc will post 0.61 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 6.82%. The ex-dividend date of this dividend was Wednesday, November 6th. Archrock’s dividend payout ratio (DPR) is currently 120.83%.

Archrock Profile

Archrock, Inc engages in the provision of operations, maintenance, service, and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services segments. The Contract Operations segment is comprised of equity investment in the partnership, in addition to the owned fleet of natural gas compression equipment that the company use to provide operations services.

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Institutional Ownership by Quarter for Archrock (NYSE:AROC)

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