Connor Clark & Lunn Investment Management Ltd. Invests $1.50 Million in Archrock, Inc. $AROC

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Archrock, Inc. (NYSE:AROC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 60,190 shares of the energy company’s stock, valued at approximately $1,495,000.

A number of other large investors have also recently modified their holdings of AROC. Nuveen LLC purchased a new stake in Archrock in the first quarter worth about $43,092,000. Driehaus Capital Management LLC bought a new position in Archrock in the first quarter worth about $25,374,000. Wellington Management Group LLP purchased a new stake in shares of Archrock during the first quarter valued at about $12,359,000. American Century Companies Inc. boosted its holdings in shares of Archrock by 9.4% in the 1st quarter. American Century Companies Inc. now owns 5,388,964 shares of the energy company’s stock valued at $141,406,000 after buying an additional 461,940 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Archrock by 84.3% in the 1st quarter. Victory Capital Management Inc. now owns 919,982 shares of the energy company’s stock worth $24,140,000 after buying an additional 420,757 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Archrock from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Mizuho increased their price objective on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Royal Bank Of Canada boosted their target price on shares of Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Evercore ISI upped their price target 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.50.

Insider Buying and Selling at Archrock

In other news, Director Jason C. Rebrook purchased 10,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were purchased at an average cost of $24.17 per share, with a total value of $241,700.00. Following the completion of the acquisition, the director owned 74,511 shares of the company’s stock, valued at approximately $1,800,930.87. This represents a 15.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eric W. Thode sold 40,740 shares of Archrock stock in a transaction on Monday, November 10th. The shares were sold at an average price of $25.10, for a total transaction of $1,022,574.00. Following the completion of the transaction, the senior vice president directly owned 184,216 shares of the company’s stock, valued at $4,623,821.60. The trade was a 18.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

Archrock Price Performance

NYSE:AROC opened at $24.08 on Monday. The firm’s fifty day moving average is $24.85 and its two-hundred day moving average is $24.54. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.29 and a beta of 1.11. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.30 and a current ratio of 1.81. Archrock, Inc. has a one year low of $20.12 and a one year high of $30.44.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Wednesday, October 29th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. Archrock had a return on equity of 20.40% and a net margin of 18.43%.The business had revenue of $382.43 million during the quarter, compared to analysts’ expectations of $379.29 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. Research analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, November 4th. Archrock’s payout ratio is 56.00%.

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.