Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Archrock, Inc. $AROC

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Archrock, Inc. (NYSE:AROC) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,267,924 shares of the energy company’s stock, valued at approximately $51,617,000.

A number of other large investors also recently bought and sold shares of AROC. BlackRock Inc. acquired a new stake in shares of Archrock during the 2nd quarter worth $1,217,511,000. Invesco Ltd. boosted its holdings in Archrock by 5.5% in the fourth quarter. Invesco Ltd. now owns 8,719,020 shares of the energy company’s stock valued at $226,869,000 after acquiring an additional 457,569 shares during the last quarter. State Street Corp grew its position in Archrock by 2.2% during the fourth quarter. State Street Corp now owns 7,018,889 shares of the energy company’s stock valued at $182,631,000 after acquiring an additional 152,312 shares during the period. Dimensional Fund Advisors LP grew its position in Archrock by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,833,290 shares of the energy company’s stock valued at $177,805,000 after acquiring an additional 111,218 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Archrock by 3.5% in the 3rd quarter. Sei Investments Co. now owns 5,499,093 shares of the energy company’s stock worth $144,681,000 after purchasing an additional 187,252 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AROC shares. Wells Fargo & Company decreased their target price on Archrock from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Weiss Ratings lowered shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Stifel Nicolaus set a $41.00 price target on shares of Archrock in a research report on Thursday, May 7th. Citigroup boosted their price objective on shares of Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Mizuho increased their price objective on shares of Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.29.

Archrock Stock Performance

Shares of AROC stock opened at $30.73 on Tuesday. Archrock, Inc. has a 12 month low of $22.88 and a 12 month high of $42.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.39 and a quick ratio of 0.94. The firm has a market capitalization of $5.39 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.47 and a beta of 0.86. The company’s fifty day moving average price is $36.32 and its two-hundred day moving average price is $35.80.

Archrock (NYSE:AROC) last announced its earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). Archrock had a net margin of 21.84% and a return on equity of 22.22%. The business had revenue of $371.24 million for the quarter, compared to analyst estimates of $393.19 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. On average, research analysts anticipate that Archrock, Inc. will post 1.81 earnings per share for the current fiscal year.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.92 annualized dividend and a yield of 3.0%. This is a boost from Archrock’s previous quarterly dividend of $0.22. Archrock’s dividend payout ratio (DPR) is presently 49.46%.

About Archrock

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.