Archrock, Inc. (NYSE:AROC) Stock Position Increased by American Century Companies Inc.

Posted by Defense World Staff on Sep 1st, 2023

American Century Companies Inc. lifted its position in Archrock, Inc. (NYSE:AROC – Free Report) by 24.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,882,092 shares of the energy company’s stock after buying an additional 369,263 shares during the period. American Century Companies Inc. owned approximately 1.20% of Archrock worth $18,388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ronald Blue Trust Inc. raised its stake in shares of Archrock by 30.7% in the 1st quarter. Ronald Blue Trust Inc. now owns 28,561 shares of the energy company’s stock worth $257,000 after buying an additional 6,708 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Archrock during the first quarter worth $204,000. Crown Advisors Management Inc. acquired a new stake in shares of Archrock during the first quarter worth $1,954,000. Voya Investment Management LLC raised its position in shares of Archrock by 241.2% during the fourth quarter. Voya Investment Management LLC now owns 509,703 shares of the energy company’s stock worth $4,577,000 after purchasing an additional 360,309 shares during the period. Finally, Capital Square LLC acquired a new stake in shares of Archrock during the fourth quarter worth $131,000. Institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. 500.com reaffirmed a “reiterates” rating on shares of Archrock in a research report on Thursday, May 4th. StockNews.com began coverage on Archrock in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Raymond James raised their target price on Archrock from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. TheStreet raised Archrock from a “c+” rating to a “b-” rating in a research report on Monday, July 31st. Finally, Royal Bank of Canada lifted their target price on Archrock from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Check Out Our Latest Stock Analysis on AROC

Insider Activity at Archrock

In other Archrock news, CAO Donna A. Henderson sold 10,802 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $12.77, for a total value of $137,941.54. Following the completion of the sale, the chief accounting officer now directly owns 39,237 shares of the company’s stock, valued at $501,056.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Archrock Trading Up 0.4 %

NYSE AROC opened at $12.79 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 1.92. Archrock, Inc. has a 1-year low of $6.28 and a 1-year high of $13.26. The firm’s fifty day simple moving average is $11.51 and its 200-day simple moving average is $10.48. The company has a market capitalization of $2.00 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.75.

Archrock (NYSE:AROC – Get Free Report) last issued its earnings results on Monday, July 31st. The energy company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Archrock had a return on equity of 8.21% and a net margin of 7.36%. The firm had revenue of $247.54 million for the quarter, compared to the consensus estimate of $241.78 million. As a group, sell-side analysts anticipate that Archrock, Inc. will post 0.64 earnings per share for the current fiscal year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 8th were issued a $0.155 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.62 dividend on an annualized basis and a yield of 4.85%. This is an increase from Archrock’s previous quarterly dividend of $0.15. Archrock’s dividend payout ratio is currently 144.19%.

Archrock Profile

(Free Report)

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