Continuum Advisory LLC Buys 2,080 Shares of Archrock, Inc. (NYSE:AROC)

Continuum Advisory LLC lifted its position in shares of Archrock, Inc. (NYSE:AROC) by 5,621.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,117 shares of the energy company’s stock after acquiring an additional 2,080 shares during the period. Continuum Advisory LLC’s holdings in Archrock were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AROC. XTX Topco Ltd purchased a new position in Archrock in the 3rd quarter worth about $229,000. Insigneo Advisory Services LLC purchased a new position in shares of Archrock during the third quarter valued at approximately $355,000. State Street Corp lifted its position in Archrock by 11.5% during the third quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after purchasing an additional 707,379 shares during the period. Stifel Financial Corp grew its position in Archrock by 7.1% in the 3rd quarter. Stifel Financial Corp now owns 112,583 shares of the energy company’s stock worth $2,279,000 after purchasing an additional 7,498 shares during the period. Finally, Millburn Ridgefield Corp purchased a new stake in Archrock during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AROC. Evercore ISI began coverage on Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Royal Bank of Canada raised their price objective on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Citigroup started coverage on shares of Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 target price for the company. Mizuho started coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Archrock currently has an average rating of “Moderate Buy” and an average target price of $25.17.

Archrock Stock Performance

AROC opened at $25.87 on Friday. The company has a 50 day simple moving average of $22.92 and a two-hundred day simple moving average of $21.03. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82. The firm has a market cap of $4.53 billion, a P/E ratio of 28.43 and a beta of 1.59. Archrock, Inc. has a 1-year low of $14.39 and a 1-year high of $27.05.

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. The business had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 earnings per share. Equities analysts forecast that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.71%. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. Archrock’s dividend payout ratio is presently 76.92%.

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.