Freestone Grove Partners LP Purchases Shares of 40,465 Archrock, Inc. $AROC

Freestone Grove Partners LP purchased a new position in shares of Archrock, Inc. (NYSE:AROC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,465 shares of the energy company’s stock, valued at approximately $1,647,000.

Several other institutional investors also recently modified their holdings of AROC. Nations Financial Group Inc. IA ADV raised its position in Archrock by 1.7% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 18,744 shares of the energy company’s stock worth $652,000 after purchasing an additional 311 shares during the last quarter. Financial Security Advisor Inc. increased its stake in shares of Archrock by 3.0% in the fourth quarter. Financial Security Advisor Inc. now owns 12,000 shares of the energy company’s stock valued at $312,000 after buying an additional 344 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Archrock by 3.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,290 shares of the energy company’s stock worth $268,000 after acquiring an additional 366 shares during the last quarter. Severin Investments LLC raised its position in shares of Archrock by 2.0% during the fourth quarter. Severin Investments LLC now owns 20,111 shares of the energy company’s stock worth $523,000 after acquiring an additional 400 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Archrock by 3.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 12,833 shares of the energy company’s stock worth $334,000 after acquiring an additional 442 shares during the period. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Down 2.5%

Shares of Archrock stock opened at $31.25 on Friday. Archrock, Inc. has a one year low of $22.88 and a one year high of $42.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.39 and a quick ratio of 0.94. The stock’s 50-day moving average is $35.93 and its 200 day moving average is $35.78. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.44 and a beta of 0.86.

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

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were given a dividend of $0.23 per share. This is a positive change from Archrock’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.92 annualized dividend and a dividend yield of 2.9%. Archrock’s payout ratio is 49.46%.

Analyst Ratings Changes

Several analysts recently commented on AROC shares. Wells Fargo & Company reduced 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. Mizuho boosted their price target on shares of Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada upped their price objective on shares of Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. Weiss Ratings cut shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Evercore set a $40.00 price objective on shares of Archrock in a research report on Monday, August 17th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.29.

Archrock 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.