Intech Investment Management LLC Has $2.61 Million Holdings in Archrock, Inc. $AROC

Intech Investment Management LLC lessened its stake in Archrock, Inc. (NYSE:AROCFree Report) by 21.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,274 shares of the energy company’s stock after selling 28,096 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Archrock worth $2,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AROC. Vaughan Nelson Investment Management L.P. acquired a new stake in Archrock in the 4th quarter valued at about $61,144,000. Stephens Investment Management Group LLC acquired a new stake in Archrock in the 4th quarter valued at about $32,904,000. HITE Hedge Asset Management LLC acquired a new stake in Archrock in the 3rd quarter valued at about $19,603,000. Balyasny Asset Management L.P. acquired a new stake in Archrock in the 2nd quarter valued at about $16,027,000. Finally, Millennium Management LLC increased its position in Archrock by 43.8% in the 3rd quarter. Millennium Management LLC now owns 2,009,230 shares of the energy company’s stock valued at $52,863,000 after acquiring an additional 611,773 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AROC. Weiss Ratings upgraded shares of Archrock from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. Mizuho upped their price target on Archrock from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, April 2nd. Wells Fargo & Company upped their price target on Archrock from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Archrock in a research note on Thursday, May 7th. Finally, Zacks Research cut Archrock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Archrock has an average rating of “Buy” and a consensus price target of $40.86.

Read Our Latest Analysis on Archrock

Insider Buying and Selling

In related news, CFO Doug S. Aron sold 35,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.30, for a total transaction of $1,340,500.00. Following the completion of the sale, the chief financial officer directly owned 359,337 shares of the company’s stock, valued at approximately $13,762,607.10. This represents a 8.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jason Ingersoll sold 33,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.19, for a total value of $1,260,270.00. Following the sale, the senior vice president directly owned 277,454 shares of the company’s stock, valued at approximately $10,595,968.26. The trade was a 10.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 327,550 shares of company stock valued at $11,861,703. 2.90% of the stock is owned by company insiders.

Archrock Price Performance

NYSE AROC opened at $34.17 on Wednesday. The business has a 50 day simple moving average of $36.44 and a 200 day simple moving average of $31.42. Archrock, Inc. has a 52-week low of $21.17 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.91 and a current ratio of 1.41. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.41 and a beta of 0.87.

Archrock (NYSE:AROCGet Free Report) last posted its earnings results on Tuesday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05). Archrock had a return on equity of 22.89% and a net margin of 21.45%.The business had revenue of $373.77 million for the quarter, compared to the consensus estimate of $378.36 million. Archrock’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts anticipate that Archrock, Inc. will post 1.95 earnings per share for the current fiscal year.

Archrock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 12th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 12th. Archrock’s dividend payout ratio is presently 47.83%.

Archrock Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Archrock (NYSE:AROC)

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