Seven Grand Managers LLC Acquires Shares of 100,000 Archrock, Inc. (NYSE:AROC)

Seven Grand Managers LLC bought a new position in shares of Archrock, Inc. (NYSE:AROC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 100,000 shares of the energy company’s stock, valued at approximately $2,024,000. Seven Grand Managers LLC owned approximately 0.06% of Archrock as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of AROC. Vanguard Group Inc. increased its position in Archrock by 4.9% during the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after acquiring an additional 849,750 shares during the period. Earnest Partners LLC increased its holdings in shares of Archrock by 2.6% during the first quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock worth $275,536,000 after purchasing an additional 351,391 shares during the period. Sei Investments Co. raised its position in shares of Archrock by 5.8% in the first quarter. Sei Investments Co. now owns 5,409,863 shares of the energy company’s stock valued at $106,412,000 after buying an additional 295,998 shares in the last quarter. American Century Companies Inc. raised its position in shares of Archrock by 20.5% in 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 buying an additional 672,663 shares in the last quarter. Finally, Energy Income Partners LLC boosted its stake in shares of Archrock by 4.9% in the first quarter. Energy Income Partners LLC now owns 2,468,897 shares of the energy company’s stock valued at $48,563,000 after buying an additional 116,298 shares during the period. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Up 2.1 %

Shares of NYSE AROC opened at $21.46 on Thursday. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 25.86 and a beta of 1.51. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 1.80. Archrock, Inc. has a 12 month low of $12.41 and a 12 month high of $23.44. The stock has a 50-day moving average price of $20.07 and a two-hundred day moving average price of $20.14.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $270.53 million for the quarter, compared to analyst estimates of $270.61 million. Archrock had a net margin of 13.20% and a return on equity of 16.35%. As a group, analysts forecast that Archrock, Inc. will post 1.07 earnings per share for the current fiscal year.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.165 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.66 annualized dividend and a dividend yield of 3.08%. Archrock’s dividend payout ratio (DPR) is presently 79.52%.

Analysts Set New Price Targets

AROC has been the subject of several analyst reports. JPMorgan Chase & Co. assumed coverage on Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price objective for the company. Mizuho started coverage on Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target for the company. Citigroup started coverage on shares of Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective for the company. Stifel Nicolaus raised their target price on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada upped their price target on shares of Archrock from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.14.

About Archrock

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.