Archrock (NYSE:AROC – Get Free Report) posted its earnings results on Tuesday. The energy company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07), Zacks reports. Archrock had a net margin of 21.45% and a return on equity of 22.89%.
Archrock Price Performance
Shares of Archrock stock traded up $0.60 on Tuesday, hitting $35.72. The company had a trading volume of 1,487,077 shares, compared to its average volume of 1,737,192. The business has a 50-day simple moving average of $36.88 and a 200-day simple moving average of $35.24. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.41 and a quick ratio of 0.91. The company has a market cap of $6.26 billion, a PE ratio of 19.41, a PEG ratio of 1.57 and a beta of 0.86. Archrock has a 52 week low of $21.17 and a 52 week high of $42.23.
Archrock Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Archrock’s previous quarterly dividend of $0.22. Archrock’s dividend payout ratio (DPR) is currently 47.83%.
Analyst Upgrades and Downgrades
Read Our Latest Research Report on AROC
Insider Buying and Selling
In other Archrock news, SVP Jason Ingersoll sold 33,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.19, for a total transaction of $1,260,270.00. Following the completion of the transaction, the senior vice president directly owned 277,454 shares of the company’s stock, valued at approximately $10,595,968.26. This trade represents a 10.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Doug S. Aron sold 90,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $36.74, for a total value of $3,306,600.00. Following the transaction, the chief financial officer directly owned 394,337 shares of the company’s stock, valued at approximately $14,487,941.38. The trade was a 18.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 158,000 shares of company stock worth $5,907,370 in the last quarter. Company insiders own 2.90% of the company’s stock.
Institutional Trading of Archrock
Institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in Archrock by 0.7% in the first quarter. Royal Bank of Canada now owns 95,866 shares of the energy company’s stock worth $2,514,000 after acquiring an additional 667 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Archrock by 217.9% in the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after purchasing an additional 902 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Archrock by 482.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,699 shares of the energy company’s stock worth $67,000 after purchasing an additional 2,236 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Archrock by 24.6% in the 2nd quarter. First Trust Advisors LP now owns 279,100 shares of the energy company’s stock worth $6,930,000 after purchasing an additional 55,059 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Archrock by 19.8% during the second quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the energy company’s stock valued at $241,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.
About Archrock
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.
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