Alps Advisors Inc. Acquires New Stake in Archrock, Inc. $AROC

Alps Advisors Inc. acquired a new stake in Archrock, Inc. (NYSE:AROC) in the third quarter, Holdings Channel reports. The firm acquired 18,690 shares of the energy company’s stock, valued at approximately $492,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Archrock by 1.4% during the second quarter. Invesco Ltd. now owns 9,080,037 shares of the energy company’s stock worth $225,457,000 after purchasing an additional 128,141 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Archrock by 9.2% in the second quarter. American Century Companies Inc. now owns 5,886,085 shares of the energy company’s stock valued at $146,152,000 after purchasing an additional 497,121 shares during the period. Geode Capital Management LLC increased its stake in shares of Archrock by 1.0% during the second quarter. Geode Capital Management LLC now owns 4,063,469 shares of the energy company’s stock worth $100,909,000 after acquiring an additional 42,050 shares during the period. Bank of New York Mellon Corp grew its holdings in Archrock by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 2,058,502 shares of the energy company’s stock worth $51,113,000 after acquiring an additional 20,048 shares during the period. Finally, Energy Income Partners LLC lifted its stake in shares of Archrock by 1.8% in the second quarter. Energy Income Partners LLC now owns 1,618,622 shares of the energy company’s stock valued at $40,190,000 after purchasing an additional 28,037 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Price Performance

Shares of NYSE:AROC opened at $31.77 on Friday. The stock’s 50 day moving average price is $27.24 and its 200 day moving average price is $25.41. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.56 and a quick ratio of 1.01. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.39 and a beta of 0.93. Archrock, Inc. has a 12 month low of $20.12 and a 12 month high of $32.87.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $0.22 per share. This is a positive change from Archrock’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, February 10th. Archrock’s dividend payout ratio is presently 58.67%.

Analyst Ratings Changes

Several research firms have recently issued reports on AROC. Zacks Research raised Archrock from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada increased their price target on shares of Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Evercore raised their target price on shares of Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Archrock presently has a consensus rating of “Buy” and a consensus price target of $32.40.

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.