Spire Wealth Management Raises Stock Position in Archrock, Inc. (NYSE:AROC)

Spire Wealth Management lifted its stake in shares of Archrock, Inc. (NYSE:AROC) by 396.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,657 shares of the energy company’s stock after acquiring an additional 44,450 shares during the quarter. Spire Wealth Management’s holdings in Archrock were worth $1,385,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its holdings in Archrock by 124.2% during the third quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock valued at $6,125,000 after buying an additional 167,648 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Archrock by 94.5% during the third quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company’s stock worth $8,549,000 after buying an additional 205,241 shares during the period. Verition Fund Management LLC acquired a new position in Archrock during the third quarter valued at $314,000. Crossmark Global Holdings Inc. purchased a new position in Archrock in the third quarter valued at $200,000. Finally, HITE Hedge Asset Management LLC purchased a new position in Archrock in the third quarter valued at $10,939,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Stock Up 2.0 %

AROC stock opened at $28.65 on Tuesday. Archrock, Inc. has a one year low of $15.65 and a one year high of $30.44. The stock has a market capitalization of $5.02 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 1.70 and a beta of 1.58. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The company has a fifty day moving average of $26.43 and a 200-day moving average of $22.77.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The firm had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. During the same quarter last year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, analysts expect that Archrock, Inc. will post 1.12 EPS for the current year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, February 12th. This is a boost from Archrock’s previous quarterly dividend of $0.18. Archrock’s dividend payout ratio (DPR) is currently 83.52%.

Analysts Set New Price Targets

AROC has been the subject of several research reports. Royal Bank of Canada upped their price objective on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. increased their price objective on shares of Archrock from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.17.

Archrock 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.