American Century Companies Inc. Purchases 249,327 Shares of Archrock, Inc. (NYSE:AROC)

Posted by on Jun 9th, 2023

American Century Companies Inc. increased its position in shares of Archrock, Inc. (NYSE:AROC – Get Rating) by 19.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,512,829 shares of the energy company’s stock after acquiring an additional 249,327 shares during the period. American Century Companies Inc. owned approximately 0.97% of Archrock worth $13,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AROC. Invesco Ltd. grew its stake in Archrock by 18.3% in the 1st quarter. Invesco Ltd. now owns 9,454,203 shares of the energy company’s stock worth $87,262,000 after buying an additional 1,462,659 shares in the last quarter. Energy Income Partners LLC grew its stake in Archrock by 192.9% in the 3rd quarter. Energy Income Partners LLC now owns 2,078,157 shares of the energy company’s stock worth $13,342,000 after buying an additional 1,368,652 shares in the last quarter. Vanguard Group Inc. grew its stake in Archrock by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 17,248,507 shares of the energy company’s stock worth $110,735,000 after buying an additional 963,291 shares in the last quarter. State Street Corp grew its stake in Archrock by 17.8% in the 1st quarter. State Street Corp now owns 6,047,977 shares of the energy company’s stock worth $55,823,000 after buying an additional 915,097 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Archrock by 320.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,051,007 shares of the energy company’s stock worth $6,747,000 after buying an additional 801,007 shares in the last quarter. Institutional investors own 82.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AROC. Raymond James upped their price objective on shares of Archrock from $10.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. 500.com reaffirmed a “reiterates” rating on shares of Archrock in a research note on Thursday, May 4th. StockNews.com cut shares of Archrock from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Royal Bank of Canada upped their price objective on shares of Archrock from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd.

Archrock Trading Up 1.0 %

Shares of AROC opened at $10.25 on Friday. The stock has a market capitalization of $1.61 billion, a P/E ratio of 26.97, a PEG ratio of 2.42 and a beta of 1.74. The company has a quick ratio of 0.68, a current ratio of 1.19 and a debt-to-equity ratio of 1.81. The firm has a fifty day simple moving average of $9.79 and a two-hundred day simple moving average of $9.52. Archrock, Inc. has a twelve month low of $6.28 and a twelve month high of $11.49.

Archrock (NYSE:AROC – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $229.83 million during the quarter, compared to analysts’ expectations of $226.50 million. Archrock had a net margin of 6.73% and a return on equity of 6.83%. On average, research analysts anticipate that Archrock, Inc. will post 0.59 EPS for the current year.

Archrock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 16th. Shareholders of record on Tuesday, May 9th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 8th. This represents a $0.60 annualized dividend and a yield of 5.85%. Archrock’s payout ratio is currently 157.89%.

Archrock Profile

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Archrock, Inc engages in the provision of operations, maintenance, service and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services. The Contract Operations segment includes the owned fleet of natural gas compression equipment that the company uses to provide operations services.

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Institutional Ownership by Quarter for Archrock (NYSE:AROC)

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