Federated Hermes Inc. Buys 80,177 Shares of Archrock, Inc. $AROC

Federated Hermes Inc. increased its stake in Archrock, Inc. (NYSE:AROC) by 12.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 747,713 shares of the energy company’s stock after purchasing an additional 80,177 shares during the period. Federated Hermes Inc. owned 0.43% of Archrock worth $18,566,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AROC. Cetera Investment Advisers increased its stake in shares of Archrock by 64.6% in the 1st quarter. Cetera Investment Advisers now owns 27,718 shares of the energy company’s stock valued at $727,000 after buying an additional 10,882 shares during the period. US Bancorp DE increased its position in Archrock by 60.0% in the first quarter. US Bancorp DE now owns 13,743 shares of the energy company’s stock worth $361,000 after purchasing an additional 5,153 shares during the period. PNC Financial Services Group Inc. raised its holdings in Archrock by 6.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,757 shares of the energy company’s stock worth $387,000 after purchasing an additional 869 shares during the last quarter. Invesco Ltd. lifted its position in Archrock by 0.8% during the 1st quarter. Invesco Ltd. now owns 8,951,896 shares of the energy company’s stock valued at $234,898,000 after purchasing an additional 67,947 shares during the period. Finally, Nuveen LLC acquired a new position in Archrock during the 1st quarter valued at about $43,092,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AROC. Mizuho lifted their price target on shares of Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Evercore ISI raised their price objective 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. Royal Bank Of Canada upped their target price on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Wells Fargo & Company assumed coverage on Archrock in a research note on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 price target on the stock. Finally, Zacks Research cut Archrock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.40.

Archrock Price Performance

AROC opened at $26.08 on Thursday. The stock has a market cap of $4.57 billion, a P/E ratio of 17.39, a P/E/G ratio of 1.32 and a beta of 0.94. Archrock, Inc. has a 12 month low of $20.12 and a 12 month high of $30.44. The company has a quick ratio of 1.01, a current ratio of 1.56 and a debt-to-equity ratio of 1.80. The company has a fifty day simple moving average of $24.57 and a 200 day simple moving average of $24.47.

Archrock (NYSE:AROC) last posted its earnings results on Wednesday, October 29th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Archrock had a return on equity of 20.17% and a net margin of 18.43%.The firm had revenue of $382.43 million for the quarter, compared to analyst estimates of $379.29 million. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. On average, research analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Tuesday, November 4th were given a $0.21 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. Archrock’s payout ratio is currently 56.00%.

Insider Activity at Archrock

In other Archrock news, Director Jason C. Rebrook bought 10,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was acquired at an average cost of $24.17 per share, with a total value of $241,700.00. Following the purchase, the director owned 74,511 shares in the company, valued at $1,800,930.87. This trade represents a 15.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric W. Thode sold 40,740 shares of Archrock stock in a transaction that occurred 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 in the company, valued at approximately $4,623,821.60. The trade was a 18.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is currently owned by insiders.

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.