Oppenheimer Asset Management Inc. Makes New Investment in Archrock, Inc. $AROC

Oppenheimer Asset Management Inc. purchased a new position in shares of Archrock, Inc. (NYSE:AROC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 45,661 shares of the energy company’s stock, valued at approximately $1,859,000.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Raymond James Financial reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Archrock in a research report on Thursday, May 7th. Citigroup upped their target price on shares of Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Mizuho upped their target price on shares of Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Wells Fargo & Company lowered their target price on Archrock from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.29.

Archrock Trading Down 0.1%

NYSE AROC opened at $34.64 on Monday. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.60 and a beta of 0.86. The stock’s 50 day moving average price is $36.70 and its two-hundred day moving average price is $35.65. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.94 and a current ratio of 1.39. Archrock, Inc. has a 52 week low of $22.88 and a 52 week high of $42.23.

Archrock (NYSE:AROC) last released its quarterly 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 firm had revenue of $371.24 million for the quarter, compared to analyst estimates of $393.19 million. Archrock had a return on equity of 22.22% and a net margin of 21.84%.The company’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. As a group, analysts anticipate that Archrock, Inc. will post 1.81 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were given a $0.23 dividend. 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 2.7%. The ex-dividend date of this dividend was Tuesday, August 4th. Archrock’s payout ratio is presently 49.46%.

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.