State Board of Administration of Florida Retirement System reduced its holdings in shares of Archrock, Inc. (NYSE:AROC – Free Report) by 15.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,351 shares of the energy company’s stock after selling 37,508 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.13% of Archrock worth $2,026,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ronald Blue Trust Inc. lifted its stake in Archrock by 30.7% during the 1st quarter. Ronald Blue Trust Inc. now owns 28,561 shares of the energy company’s stock valued at $257,000 after acquiring an additional 6,708 shares in the last quarter. Guggenheim Capital LLC grew its position in Archrock by 44.3% in the 1st quarter. Guggenheim Capital LLC now owns 93,340 shares of the energy company’s stock worth $912,000 after purchasing an additional 28,672 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Archrock in the 1st quarter valued at about $204,000. Crown Advisors Management Inc. bought a new position in shares of Archrock during the 1st quarter worth approximately $1,954,000. Finally, Sei Investments Co. boosted its stake in shares of Archrock by 7.4% in the 1st quarter. Sei Investments Co. now owns 3,071,433 shares of the energy company’s stock worth $30,008,000 after buying an additional 212,227 shares during the last quarter. 81.53% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on AROC. Stifel Nicolaus increased their price target on Archrock from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. StockNews.com assumed coverage on shares of Archrock in a research report on Thursday, August 17th. They set a “hold” rating for the company. Raymond James lifted their price objective on shares of Archrock from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Royal Bank of Canada increased their target price on shares of Archrock from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Finally, TheStreet raised shares of Archrock from a “c+” rating to a “b-” rating in a report on Monday, July 31st. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Archrock presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.
Insider Transactions at Archrock
In related news, CAO Donna A. Henderson sold 10,802 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $12.77, for a total transaction of $137,941.54. Following the sale, the chief accounting officer now directly owns 39,237 shares in the company, valued at approximately $501,056.49. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.
Archrock Trading Down 1.4 %
Shares of Archrock stock opened at $12.29 on Wednesday. The stock has a market capitalization of $1.92 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.70 and a beta of 1.75. Archrock, Inc. has a 52-week low of $6.28 and a 52-week high of $13.26. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.92 and a current ratio of 1.57. The stock’s 50-day simple moving average is $12.14 and its 200 day simple moving average is $10.69.
Archrock (NYSE:AROC – Get Free Report) last posted its quarterly earnings results on Monday, July 31st. The energy company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $247.54 million for the quarter, compared to analyst estimates of $241.78 million. Archrock had a net margin of 7.36% and a return on equity of 8.21%. As a group, research analysts anticipate that Archrock, Inc. will post 0.64 EPS for the current year.
Archrock Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.62 annualized dividend and a dividend yield of 5.04%. This is an increase from Archrock’s previous quarterly dividend of $0.15. Archrock’s dividend payout ratio is currently 144.19%.
Archrock Company Profile
Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. It operates in two segments, Contract Operations and Aftermarket Services. The company engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining its owned fleet of natural gas compression equipment to provide natural gas compression services to customers in the oil and natural gas industry.
Featured Stories
- Five stocks we like better than Archrock
- Are Penny Stocks a Good Fit for Your Portfolio?
- Hold-It-Forever AutoZone Pulls into Buy Zone
- Why Invest in High-Yield Dividend Stocks?
- Virtual Riches: 3 Stocks Leading the VR Revolution
- How to Use High Beta Stocks to Maximize Your Investing Profits
- 5 eCommerce Companies that need to be on Your Watch List
Want to see what other hedge funds are holding AROC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archrock, Inc. (NYSE:AROC – Free Report).
Receive News & Ratings for Archrock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archrock and related companies with MarketBeat.com's FREE daily email newsletter.
