EFG Asset Management North America Corp. Acquires 27,730 Shares of Archrock, Inc. $AROC

EFG Asset Management North America Corp. lifted its stake in Archrock, Inc. (NYSE:AROC) by 48.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,590 shares of the energy company’s stock after purchasing an additional 27,730 shares during the period. EFG Asset Management North America Corp.’s holdings in Archrock were worth $2,226,000 at the end of the most recent quarter.

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

Insider Transactions at Archrock

In other Archrock news, SVP Eric W. Thode sold 40,740 shares of the business’s stock in a transaction dated 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 sale, 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. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AROC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Archrock in a report on Wednesday, January 21st. Evercore ISI increased their price target on Archrock from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Royal Bank Of Canada raised their price target on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Zacks Research lowered Archrock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.40.

Archrock Stock Performance

Shares of Archrock stock opened at $28.52 on Wednesday. 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 firm has a market cap of $5.00 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92. The stock’s 50-day moving average is $25.65 and its 200-day moving average is $24.81. Archrock, Inc. has a one year low of $20.12 and a one year high of $30.19.

Archrock (NYSE:AROC) last announced its earnings results on Wednesday, October 29th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $382.43 million for the quarter, compared to analyst estimates of $379.29 million. Archrock had a return on equity of 20.17% and a net margin of 18.43%.Archrock’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. Equities analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

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.