Archrock, Inc. (NYSE:AROC) Stock Position Decreased by Victory Capital Management Inc.

Posted by Defense World Staff on May 24th, 2023

Victory Capital Management Inc. lessened its holdings in shares of Archrock, Inc. (NYSE:AROC – Get Rating) by 36.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,252,130 shares of the energy company’s stock after selling 726,872 shares during the period. Victory Capital Management Inc. owned 0.80% of Archrock worth $12,409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in Archrock by 34.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 81,856 shares of the energy company’s stock worth $735,000 after purchasing an additional 21,000 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in Archrock in the 4th quarter worth about $100,000. Mutual of America Capital Management LLC grew its position in Archrock by 17.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 26,626 shares of the energy company’s stock worth $171,000 after purchasing an additional 3,946 shares during the last quarter. Doheny Asset Management CA bought a new position in Archrock in the 3rd quarter worth about $294,000. Finally, CWA Asset Management Group LLC bought a new position in Archrock in the 3rd quarter worth about $196,000. Institutional investors own 82.05% of the company’s stock.

Archrock Stock Down 0.7 %

AROC stock opened at $9.48 on Wednesday. Archrock, Inc. has a 12 month low of $6.28 and a 12 month high of $11.49. The firm has a market cap of $1.49 billion, a PE ratio of 24.95, a P/E/G ratio of 2.34 and a beta of 1.74. The firm has a 50 day simple moving average of $9.80 and a 200 day simple moving average of $9.45. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.19 and a quick ratio of 0.68.

Archrock (NYSE:AROC – Get Rating) last released its earnings results on Tuesday, May 2nd. The energy company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Archrock had a net margin of 6.73% and a return on equity of 6.83%. The business had revenue of $229.83 million during the quarter, compared to analyst estimates of $226.50 million. Equities research analysts forecast that Archrock, Inc. will post 0.59 earnings per share for the current fiscal year.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 16th. Investors of record on Tuesday, May 9th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.33%. The ex-dividend date was Monday, May 8th. Archrock’s dividend payout ratio is presently 157.90%.

Analyst Ratings Changes

Several research analysts have commented on AROC shares. Royal Bank of Canada upped 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. 500.com reiterated a “reiterates” rating on shares of Archrock in a report on Thursday, May 4th. StockNews.com upgraded shares of Archrock from a “hold” rating to a “buy” rating in a report on Friday, May 12th. Finally, Raymond James increased their price objective on shares of Archrock from $10.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, February 24th.

Insider Activity at Archrock

In related news, CAO Donna A. Henderson sold 13,961 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $555,933.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Donna A. Henderson sold 13,961 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $11.11, for a total value of $155,106.71. Following the completion of the sale, the chief accounting officer now owns 50,039 shares in the company, valued at approximately $555,933.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ocean Reserves Lp Old sold 557,737 shares of the company’s stock in a transaction that occurred on 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 owns 16,172,626 shares of the company’s stock, valued at approximately $175,149,539.58. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Archrock 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.