Castleark Management LLC Makes New $1.70 Million Investment in Archrock, Inc. $AROC

Castleark Management LLC purchased a new stake in Archrock, Inc. (NYSE:AROC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 41,660 shares of the energy company’s stock, valued at approximately $1,696,000.

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

Analyst Ratings Changes

AROC has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Archrock from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada boosted their target price on shares of Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Raymond James Financial reaffirmed an “outperform” rating and set a $46.00 price target on shares of Archrock in a research report on Thursday, May 7th. Finally, Stifel Nicolaus set a $41.00 price target on Archrock in a report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.29.

Archrock Stock Up 3.1%

Archrock stock opened at $31.65 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.39 and a debt-to-equity ratio of 1.51. Archrock, Inc. has a 12-month low of $22.88 and a 12-month high of $42.23. The firm’s fifty day moving average is $36.14 and its 200 day moving average is $35.81. The company has a market capitalization of $5.55 billion, a PE ratio of 17.02, a PEG ratio of 1.42 and a beta of 0.86.

Archrock (NYSE:AROC) last announced 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 return on equity of 22.22% and a net margin of 21.84%.The firm had revenue of $371.24 million during the quarter, compared to the consensus estimate of $393.19 million. During the same quarter in the previous year, the company posted $0.39 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Archrock, Inc. will post 1.81 EPS for the current fiscal year.

Archrock Increases Dividend

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

About Archrock

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.