FDx Advisors Inc. Purchases Shares of 12,043 Archrock, Inc. (NYSE:AROC)

Posted by Defense World Staff on Oct 3rd, 2023

FDx Advisors Inc. purchased a new stake in shares of Archrock, Inc. (NYSE:AROC – Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 12,043 shares of the energy company’s stock, valued at approximately $123,000.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Archrock by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 17,248,507 shares of the energy company’s stock valued at $110,735,000 after purchasing an additional 963,291 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Archrock by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 10,007,219 shares of the energy company’s stock worth $97,770,000 after buying an additional 610,186 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Archrock by 18.3% in the first 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 during the last quarter. Bank of America Corp DE boosted its stake in shares of Archrock by 2.7% in the first quarter. Bank of America Corp DE now owns 7,287,680 shares of the energy company’s stock worth $71,201,000 after buying an additional 190,711 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Archrock by 17.8% in the first 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 during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Insider Buying and Selling at Archrock

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AROC. Stifel Nicolaus upped their target price on Archrock from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. TheStreet upgraded Archrock from a “c+” rating to a “b-” rating in a research note on Monday, July 31st. Royal Bank of Canada upped their target price on Archrock from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. StockNews.com started coverage on Archrock in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Raymond James upped their price target on Archrock from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Check Out Our Latest Analysis on Archrock

Archrock Stock Performance

NYSE AROC opened at $12.25 on Tuesday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 2.81 and a beta of 1.72. Archrock, Inc. has a twelve month low of $6.57 and a twelve month high of $13.79. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 1.92. The stock has a 50-day moving average of $12.51 and a 200 day moving average of $10.82.

Archrock (NYSE:AROC – Get Free Report) last released its quarterly earnings results on Monday, July 31st. The energy company reported $0.18 earnings per share for the quarter, topping 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 company had revenue of $247.54 million during the quarter, compared to analysts’ expectations of $241.78 million. Sell-side analysts anticipate that Archrock, Inc. will post 0.64 EPS for the current fiscal year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.06%. This is a boost from Archrock’s previous quarterly dividend of $0.15. Archrock’s dividend payout ratio is presently 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.