Eric W. Thode Sells 10,000 Shares of Archrock (NYSE:AROC) Stock

Key Points

• Archrock, Inc. SVP Eric W. Thode sold 10,000 shares at an average price of $23.54, totaling $235,400, which decreased his holdings by 4.26% to 224,809 shares.
• The company recently declared a quarterly dividend of $0.21, raising it from the previous $0.19, resulting in an annualized yield of 3.5%.
• Archrock reported a 41.6% increase in revenue compared to the same quarter last year, with EPS beating expectations at $0.39 against the anticipated $0.37.

Archrock, Inc. (NYSE:AROC - Get Free Report) SVP Eric W. Thode sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.54, for a total transaction of $235,400.00. Following the completion of the sale, the senior vice president owned 224,809 shares of the company's stock, valued at approximately $5,292,003.86. This represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Archrock Stock Down 0.4%

Shares of AROC stock traded down $0.0950 on Tuesday, hitting $24.0750. The stock had a trading volume of 299,140 shares, compared to its average volume of 1,416,534. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 1.23 and a beta of 1.10. The business has a 50 day moving average of $23.88 and a 200 day moving average of $24.80. 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 12-month low of $18.38 and a 12-month high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The energy company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $383.15 million during the quarter, compared to analyst estimates of $366.34 million. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The firm's revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. As a group, analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Archrock's previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, August 5th. Archrock's dividend payout ratio (DPR) is 63.64%.

Archrock declared that its board has approved a share repurchase plan on Monday, May 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the energy company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AROC shares. Evercore ISI lowered their target price on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Sidoti raised shares of Archrock to a "hold" rating in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $28.40.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AROC. Caxton Associates LLP purchased a new position in Archrock during the 2nd quarter valued at $310,000. Public Sector Pension Investment Board increased its position in Archrock by 8.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 602,756 shares of the energy company's stock valued at $14,966,000 after purchasing an additional 47,298 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Archrock by 1.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 157,333 shares of the energy company's stock valued at $3,906,000 after purchasing an additional 2,310 shares during the period. Tower Research Capital LLC TRC increased its position in Archrock by 294.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 20,096 shares of the energy company's stock valued at $499,000 after purchasing an additional 14,996 shares during the period. Finally, Corient Private Wealth LLC purchased a new position in Archrock during the 2nd quarter valued at $703,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Company 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.