First Hawaiian Bank Takes $665,000 Position in Archrock, Inc. $AROC

Key Points

• First Hawaiian Bank acquired 25,362 shares of Archrock, Inc. ($AROC) during Q1, valued at approximately $665,000, reflecting growing institutional interest in the energy company's stock.
• Archrock recently reported an EPS of $0.39, surpassing analysts' expectations, with revenue increasing by 41.6% year-over-year to $383.15 million.
• The company announced a dividend increase to $0.21 per share, with a current dividend yield of 3.4%, up from the previous $0.19 per share payout.

First Hawaiian Bank acquired a new position in shares of Archrock, Inc. (NYSE:AROC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,362 shares of the energy company's stock, valued at approximately $665,000.

Several other hedge funds have also recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in shares of Archrock in the first quarter valued at $43,092,000. Driehaus Capital Management LLC acquired a new stake in shares of Archrock in the first quarter valued at $25,374,000. Millennium Management LLC increased its stake in shares of Archrock by 186.0% in the fourth quarter. Millennium Management LLC now owns 1,047,346 shares of the energy company's stock valued at $26,068,000 after buying an additional 681,160 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Archrock in the first quarter valued at $12,359,000. Finally, American Century Companies Inc. increased its stake in shares of Archrock by 9.4% in the first quarter. American Century Companies Inc. now owns 5,388,964 shares of the energy company's stock valued at $141,406,000 after buying an additional 461,940 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Archrock

In other Archrock news, SVP Eric W. Thode sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total transaction of $235,400.00. Following the transaction, the senior vice president owned 224,809 shares in the company, valued at approximately $5,292,003.86. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jason C. Rebrook bought 10,000 shares of Archrock stock in a transaction on Thursday, September 18th. The shares were bought at an average price of $24.17 per share, for a total transaction of $241,700.00. Following the acquisition, the director owned 64,511 shares of the company's stock, valued at approximately $1,559,230.87. The trade was a 18.34% increase in their position. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by company insiders.

Archrock Trading Down 1.5%

Archrock stock traded down $0.37 during mid-day trading on Friday, hitting $24.09. The stock had a trading volume of 3,583,957 shares, compared to its average volume of 1,436,521. The stock has a 50-day simple moving average of $23.88 and a two-hundred day simple moving average of $24.37. The stock has a market capitalization of $4.24 billion, a PE ratio of 18.25, a P/E/G ratio of 1.26 and a beta of 1.14. Archrock, Inc. has a 12 month low of $19.73 and a 12 month high of $30.44. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86.

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 (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $383.15 million for the quarter, compared to analysts' expectations of $366.34 million. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The firm's quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. As a group, sell-side analysts forecast that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a 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%.

Wall Street Analysts Forecast Growth

AROC has been the subject of a number of research reports. Mizuho raised their target price on Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Evercore ISI lowered their target price on Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company initiated coverage on Archrock in a research note on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.00.

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.