Great Lakes Advisors LLC Boosts Stock Holdings in Archrock, Inc. (NYSE:AROC)

Great Lakes Advisors LLC grew its stake in shares of Archrock, Inc. (NYSE:AROC) by 2,923.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 433,907 shares of the energy company’s stock after buying an additional 419,554 shares during the period. Great Lakes Advisors LLC owned 0.28% of Archrock worth $4,448,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Guggenheim Capital LLC raised its holdings in Archrock by 44.3% in the first quarter. Guggenheim Capital LLC now owns 93,340 shares of the energy company’s stock valued at $912,000 after buying an additional 28,672 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Archrock by 7.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 13,718 shares of the energy company’s stock valued at $141,000 after acquiring an additional 902 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in Archrock by 37.9% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 14,424 shares of the energy company’s stock worth $148,000 after purchasing an additional 3,961 shares during the period. Creative Planning acquired a new stake in Archrock in the 2nd quarter valued at $118,000. Finally, Crown Advisors Management Inc. purchased a new position in Archrock in the first quarter valued at about $1,954,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

Archrock Price Performance

Shares of AROC stock opened at $14.49 on Tuesday. The firm has a fifty day moving average of $12.97 and a two-hundred day moving average of $11.64. The firm has a market cap of $2.26 billion, a P/E ratio of 27.34, a P/E/G ratio of 3.03 and a beta of 1.70. Archrock, Inc. has a 1-year low of $7.96 and a 1-year high of $14.75. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.41 and a quick ratio of 0.86.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Wednesday, November 1st. The energy company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $253.37 million during the quarter, compared to the consensus estimate of $252.04 million. Archrock had a return on equity of 10.04% and a net margin of 8.68%. As a group, research analysts anticipate that Archrock, Inc. will post 0.67 earnings per share for the current fiscal year.

Archrock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.28%. The ex-dividend date was Monday, November 6th. Archrock’s dividend payout ratio (DPR) is presently 116.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AROC shares. Raymond James increased their target price on Archrock from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, October 17th. StockNews.com raised shares of Archrock from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. TheStreet upgraded shares of Archrock from a “c+” rating to a “b-” rating in a report on Monday, July 31st. Royal Bank of Canada raised their target price on Archrock from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus increased their price target on Archrock from $13.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Four analysts have rated the stock with a buy rating, According to MarketBeat, Archrock currently has an average rating of “Buy” and a consensus price target of $16.33.

Insiders Place Their Bets

In other Archrock news, CAO Donna A. Henderson sold 10,802 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $12.77, for a total transaction of $137,941.54. Following the sale, the chief accounting officer now directly owns 39,237 shares of the company’s stock, valued at $501,056.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Archrock Company Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. It operates in two segments, Contract Operations and Aftermarket Services. The company engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining its owned fleet of natural gas compression equipment to provide natural gas compression services to customers in the oil and natural gas industry.