Transcendent Capital Group LLC Invests $497,000 in Archrock, Inc. $AROC

Transcendent Capital Group LLC bought a new position in Archrock, Inc. (NYSE:AROC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,018 shares of the energy company’s stock, valued at approximately $497,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its position in shares of Archrock by 34.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company’s stock worth $1,457,000 after buying an additional 14,200 shares during the period. KBC Group NV boosted its position in shares of Archrock by 13.2% in the first quarter. KBC Group NV now owns 8,030 shares of the energy company’s stock worth $211,000 after buying an additional 937 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Archrock by 53.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company’s stock worth $725,000 after buying an additional 9,594 shares during the period. GAMMA Investing LLC boosted its position in shares of Archrock by 26.7% in the first quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company’s stock worth $239,000 after buying an additional 1,917 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Archrock in the first quarter worth $522,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AROC shares. Mizuho lifted their price objective on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Evercore ISI lowered their target price on Archrock from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company assumed coverage on Archrock in a research note on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Archrock presently has an average rating of “Moderate Buy” and an average price target of $30.00.

Insider Activity

In related news, Director Jason C. Rebrook purchased 5,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was bought at an average price of $23.94 per share, for a total transaction of $119,700.00. Following the purchase, the director owned 79,511 shares in the company, valued at $1,903,493.34. The trade was a 6.71% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Eric W. Thode sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the sale, the senior vice president owned 224,809 shares of the company’s stock, valued at approximately $5,292,003.86. This trade represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Archrock Stock Performance

Shares of NYSE AROC opened at $23.88 on Friday. The business’s 50-day moving average price is $24.54 and its two-hundred day moving average price is $24.36. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.81 and a quick ratio of 1.30. Archrock, Inc. has a one year low of $19.73 and a one year high of $30.44. The company has a market capitalization of $4.20 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 1.23 and a beta of 1.07.

Archrock (NYSE:AROC) last released its quarterly earnings results on Monday, August 4th. The energy company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $383.15 million during the quarter, compared to the consensus estimate of $366.34 million. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The firm’s revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. Analysts anticipate that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.21 per share. This is a boost from Archrock’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, August 5th. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. Archrock’s dividend payout ratio is currently 63.64%.

Archrock Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.