Hsbc Holdings PLC Purchases Shares of 51,221 Archrock, Inc. $AROC

Hsbc Holdings PLC purchased a new position in Archrock, Inc. (NYSE:AROC) during the 2nd quarter, Holdings Channel reports. The firm purchased 51,221 shares of the energy company’s stock, valued at approximately $2,122,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EFG International AG acquired a new position in shares of Archrock during the second quarter valued at about $4,329,000. PDT Partners LLC bought a new position in Archrock during the second quarter valued at about $296,000. Castleark Management LLC acquired a new position in Archrock in the 2nd quarter valued at approximately $1,696,000. Legal & General Group Plc acquired a new position in Archrock in the 2nd quarter valued at approximately $17,993,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Archrock in the 2nd quarter worth approximately $3,766,000. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Up 0.0%

AROC opened at $31.25 on Monday. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.51 and a beta of 0.86. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.94 and a current ratio of 1.39. The firm’s 50-day simple moving average is $35.93 and its 200-day simple moving average is $35.80. Archrock, Inc. has a twelve month low of $22.88 and a twelve month high of $42.23.

Archrock (NYSE:AROC) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The firm had revenue of $371.24 million during the quarter, compared to analyst estimates of $393.19 million. Archrock had a net margin of 21.84% and a return on equity of 22.22%. Archrock’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. Equities research analysts anticipate that Archrock, Inc. will post 1.73 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th were given a dividend of $0.23 per share. This is a boost from Archrock’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, August 4th. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. Archrock’s dividend payout ratio is currently 49.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AROC shares. Royal Bank Of Canada boosted their price objective on Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, August 17th. Evercore set a $40.00 price target on shares of Archrock in a research note on Monday, August 17th. Citigroup boosted their price target on shares of Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Stifel Nicolaus set a $41.00 price objective on shares of Archrock in a research note on Thursday, May 7th. Finally, Weiss Ratings cut shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.29.

Archrock Profile

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.