Van ECK Associates Corp Has $7.85 Million Stake in Archrock, Inc. $AROC

Van ECK Associates Corp boosted its holdings in Archrock, Inc. (NYSE:AROC) by 138.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 192,835 shares of the energy company’s stock after acquiring an additional 112,002 shares during the quarter. Van ECK Associates Corp’s holdings in Archrock were worth $7,850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AROC. Northwestern Mutual Wealth Management Co. raised its position in shares of Archrock by 15,293.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 138,388 shares of the energy company’s stock valued at $3,601,000 after acquiring an additional 137,489 shares during the last quarter. Marietta Investment Partners LLC bought a new position in shares of Archrock in the 4th quarter worth $1,611,000. BlackRock Inc. bought a new position in shares of Archrock in the 2nd quarter worth $1,217,511,000. Natixis Advisors LLC grew its stake in shares of Archrock by 22.4% during the fourth quarter. Natixis Advisors LLC now owns 1,685,080 shares of the energy company’s stock worth $43,846,000 after purchasing an additional 308,246 shares during the period. Finally, Algert Global LLC grew its stake in shares of Archrock by 85.8% during the second quarter. Algert Global LLC now owns 225,040 shares of the energy company’s stock worth $9,161,000 after purchasing an additional 103,890 shares during the period. 95.45% of the stock is owned by institutional investors.

Archrock Price Performance

AROC opened at $31.73 on Wednesday. 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 company has a fifty day simple moving average of $35.65 and a 200 day simple moving average of $35.79. The stock has a market cap of $5.56 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.52 and a beta of 0.86.

Archrock (NYSE:AROC) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share 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 business had revenue of $371.24 million for the quarter, compared to the consensus estimate of $393.19 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, research analysts expect that Archrock, Inc. will post 1.73 EPS for the current year.

Archrock Increases Dividend

The firm also recently declared 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 an increase 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%. The ex-dividend date of this dividend was Tuesday, August 4th. Archrock’s payout ratio is 49.46%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AROC. Weiss Ratings downgraded Archrock from a “buy (a-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Stifel Nicolaus set a $41.00 target price on Archrock in a research report on Thursday, May 7th. Evercore set a $40.00 price target on Archrock in a research note on Monday, August 17th. Royal Bank Of Canada increased their price target on shares of Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, August 17th. Finally, Raymond James Financial reissued an “outperform” rating and set a $46.00 price objective on shares of Archrock in a research note 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.29.

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.