Amalgamated Bank Boosts Holdings in Archrock, Inc. (NYSE:AROC)

Amalgamated Bank raised its position in Archrock, Inc. (NYSE:AROC) by 17.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,513 shares of the energy company’s stock after purchasing an additional 7,437 shares during the period. Amalgamated Bank’s holdings in Archrock were worth $1,002,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Archrock during the first quarter worth about $43,000. BNP Paribas Financial Markets increased its position in shares of Archrock by 77.2% in the first quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock worth $1,377,000 after purchasing an additional 30,493 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Archrock by 9.0% in the first quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company’s stock worth $257,000 after purchasing an additional 1,079 shares during the last quarter. SG Americas Securities LLC bought a new stake in Archrock during the first quarter valued at approximately $133,000. Finally, Russell Investments Group Ltd. lifted its position in Archrock by 70.6% during the first quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock valued at $117,000 after purchasing an additional 2,461 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AROC. JPMorgan Chase & Co. began coverage on shares of Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective on the stock. Royal Bank of Canada raised their price target on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus upped their price objective on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Citigroup began coverage on Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Mizuho started coverage on Archrock in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.67.

Archrock Stock Down 1.7 %

AROC opened at $23.26 on Friday. The company has a market cap of $3.93 billion, a P/E ratio of 25.36 and a beta of 1.52. Archrock, Inc. has a 12 month low of $13.89 and a 12 month high of $24.71. The business’s 50-day moving average price is $20.76 and its 200-day moving average price is $20.29. 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 (NYSE:AROC) last announced its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $292.16 million for the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a return on equity of 18.12% and a net margin of 13.34%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. On average, equities analysts expect that Archrock, Inc. will post 1.13 EPS for the current year.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.175 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 annualized dividend and a yield of 3.01%. This is a boost from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio is presently 76.92%.

Archrock Company 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.