King Luther Capital Management Corp Makes New $3.36 Million Investment in Archrock, Inc. (NYSE:AROC)

King Luther Capital Management Corp bought a new stake in shares of Archrock, Inc. (NYSE:AROC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 166,152 shares of the energy company’s stock, valued at approximately $3,363,000.

Other large investors also recently modified their holdings of the company. Kayne Anderson Capital Advisors LP grew its holdings in Archrock by 1,680.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock valued at $30,976,000 after purchasing an additional 1,444,471 shares during the period. Boston Partners bought a new position in shares of Archrock during the 1st quarter worth $24,875,000. Millennium Management LLC increased its holdings in Archrock by 60.3% in the 2nd quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after acquiring an additional 882,024 shares during the last quarter. Vanguard Group Inc. raised its stake in Archrock by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock valued at $360,385,000 after acquiring an additional 849,750 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Archrock by 20.5% during the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock valued at $80,036,000 after purchasing an additional 672,663 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

AROC has been the subject of several recent research reports. Evercore ISI initiated coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 price objective for the company. Mizuho initiated coverage on Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price on the stock. Citigroup assumed coverage on Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Archrock currently has a consensus rating of “Moderate Buy” and an average target price of $24.67.

Archrock Stock Up 0.4 %

Shares of NYSE:AROC opened at $25.85 on Friday. The firm has a market capitalization of $4.53 billion, a PE ratio of 28.41 and a beta of 1.52. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. Archrock, Inc. has a 52-week low of $13.95 and a 52-week high of $26.36. The firm has a fifty day moving average of $21.39 and a 200 day moving average of $20.47.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. As a group, research analysts anticipate that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.175 per share. The ex-dividend date was Wednesday, November 6th. This is an increase from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 2.71%. Archrock’s dividend payout ratio (DPR) is 76.92%.

Archrock Company Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.