Man Group plc Takes Position in Archrock, Inc. $AROC

Man Group plc bought a new stake in Archrock, Inc. (NYSE:AROC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 86,335 shares of the energy company’s stock, valued at approximately $3,515,000.

Other institutional investors have also added to or reduced their stakes in the company. Valued Wealth Advisors LLC bought a new stake in Archrock during the first quarter worth $26,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Archrock in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp increased its stake in shares of Archrock by 217.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after purchasing an additional 902 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Archrock during the 1st quarter worth about $36,000. Finally, Covestor Ltd raised its holdings in shares of Archrock by 234.9% in the 4th quarter. Covestor Ltd now owns 1,410 shares of the energy company’s stock valued at $37,000 after purchasing an additional 989 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AROC. Evercore set a $40.00 target price on shares of Archrock in a research note on Monday, August 17th. Weiss Ratings downgraded Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Citigroup upped their price objective on Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada lifted their target price on Archrock from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, August 17th. Finally, Wells Fargo & Company decreased their target price on Archrock from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.29.

Archrock Price Performance

Shares of NYSE AROC opened at $31.41 on Tuesday. The firm has a market cap of $5.51 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 1.51 and a beta of 0.86. The company has a current ratio of 1.39, a quick ratio of 0.94 and a debt-to-equity ratio of 1.51. Archrock, Inc. has a 1-year low of $22.88 and a 1-year high of $42.23. The business’s 50 day moving average is $35.80 and its 200-day moving average is $35.80.

Archrock (NYSE:AROC) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). Archrock had a net margin of 21.84% and a return on equity of 22.22%. The firm had revenue of $371.24 million during the quarter, compared to the consensus estimate of $393.19 million. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts predict that Archrock, Inc. will post 1.73 earnings per share for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This is a boost from Archrock’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.9%. Archrock’s dividend payout ratio (DPR) is presently 49.46%.

Archrock Company Profile

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.