Oppenheimer Asset Management Inc. Reduces Stock Position in Archrock, Inc. (NYSE:AROC)

Posted by Defense World Staff on May 6th, 2023

Oppenheimer Asset Management Inc. lowered its position in shares of Archrock, Inc. (NYSE:AROC – Get Rating) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,488 shares of the energy company’s stock after selling 1,341 shares during the period. Oppenheimer Asset Management Inc. owned about 0.06% of Archrock worth $795,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Archrock by 34.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 81,856 shares of the energy company’s stock valued at $735,000 after buying an additional 21,000 shares during the period. ProShare Advisors LLC lifted its position in shares of Archrock by 14.8% in the 4th quarter. ProShare Advisors LLC now owns 21,322 shares of the energy company’s stock worth $191,000 after purchasing an additional 2,753 shares during the period. Profund Advisors LLC lifted its position in shares of Archrock by 7.1% in the 4th quarter. Profund Advisors LLC now owns 34,979 shares of the energy company’s stock worth $314,000 after purchasing an additional 2,325 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Archrock by 36.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,834 shares of the energy company’s stock worth $205,000 after purchasing an additional 6,159 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Archrock in the 4th quarter worth about $99,000. Hedge funds and other institutional investors own 82.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AROC. 500.com reaffirmed a “reiterates” rating on shares of Archrock in a research report on Thursday. StockNews.com cut shares of Archrock from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th. Royal Bank of Canada raised their target price on shares of Archrock from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. Finally, Raymond James raised their target price on shares of Archrock from $10.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th.

Archrock Stock Down 0.3 %

Shares of Archrock stock opened at $9.92 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.56 and a quick ratio of 0.99. The company has a 50-day moving average of $10.10 and a 200 day moving average of $9.24. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 2.40 and a beta of 1.74. Archrock, Inc. has a 1 year low of $6.28 and a 1 year high of $11.49.

Archrock (NYSE:AROC – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The energy company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $218.87 million during the quarter, compared to analyst estimates of $213.27 million. Archrock had a net margin of 6.73% and a return on equity of 6.80%. During the same period last year, the business earned $0.09 EPS. As a group, sell-side analysts anticipate that Archrock, Inc. will post 0.56 earnings per share for the current fiscal year.

Archrock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 16th. Investors of record on Tuesday, May 9th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 8th. This represents a $0.60 annualized dividend and a dividend yield of 6.05%. Archrock’s payout ratio is 157.89%.

Insider Buying and Selling

In other Archrock news, major shareholder Ocean Reserves Lp Old sold 557,737 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $10.83, for a total transaction of $6,040,291.71. Following the completion of the sale, the insider now directly owns 16,172,626 shares in the company, valued at approximately $175,149,539.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Archrock news, CAO Donna A. Henderson sold 13,961 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $11.11, for a total transaction of $155,106.71. Following the completion of the sale, the chief accounting officer now directly owns 50,039 shares in the company, valued at approximately $555,933.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ocean Reserves Lp Old sold 557,737 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $10.83, for a total transaction of $6,040,291.71. Following the sale, the insider now owns 16,172,626 shares of the company’s stock, valued at $175,149,539.58. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Archrock Company Profile

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Archrock, Inc engages in the provision of operations, maintenance, service and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services. The Contract Operations segment includes the owned fleet of natural gas compression equipment that the company uses to provide operations services.