Allianz Asset Management GmbH Sells 53,185 Shares of Archrock, Inc. $AROC

Key Points

• Allianz Asset Management GmbH reduced its stake in Archrock, Inc. by 19.4% during the second quarter, now holding 221,119 shares worth approximately $5.49 million.
• Other institutional investors, including the New York State Teachers Retirement System, have altered their holdings, with some increasing their stakes significantly, indicating continued institutional interest in Archrock.
• Analysts have mixed recommendations for Archrock, with target prices ranging from $30.00 to $32.00 and varying ratings from "strong buy" to "hold" among different brokerages.

Allianz Asset Management GmbH lessened its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 19.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,119 shares of the energy company's stock after selling 53,185 shares during the quarter. Allianz Asset Management GmbH owned about 0.13% of Archrock worth $5,490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AROC. New York State Teachers Retirement System raised its stake in Archrock by 10.6% in the second quarter. New York State Teachers Retirement System now owns 162,316 shares of the energy company's stock valued at $4,030,000 after purchasing an additional 15,497 shares in the last quarter. Moran Wealth Management LLC grew its stake in Archrock by 3.2% in the 2nd quarter. Moran Wealth Management LLC now owns 25,904 shares of the energy company's stock worth $643,000 after buying an additional 812 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Archrock by 171.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 30,552 shares of the energy company's stock worth $759,000 after buying an additional 19,284 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of Archrock by 2.5% during the 2nd quarter. Yousif Capital Management LLC now owns 66,589 shares of the energy company's stock valued at $1,653,000 after buying an additional 1,654 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Archrock during the 2nd quarter valued at $497,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Insider Transactions at Archrock

In other news, Director Jason C. Rebrook purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were bought at an average cost of $23.94 per share, for a total transaction of $119,700.00. Following the completion of the transaction, the director directly owned 79,511 shares of the company's stock, valued at $1,903,493.34. This trade represents a 6.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $235,400.00. Following the completion of the sale, the senior vice president directly owned 224,809 shares in the company, valued at $5,292,003.86. This represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AROC. Evercore ISI cut their target price on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Wells Fargo & Company initiated coverage on Archrock in a report on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 price objective for the company. Zacks Research raised Archrock from a "hold" rating to a "strong-buy" rating in a report on Monday. Weiss Ratings restated a "buy (b)" rating on shares of Archrock in a research report on Wednesday, October 8th. Finally, Mizuho increased their price target on shares of Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $30.00.

Archrock Trading Up 2.2%

NYSE:AROC opened at $25.20 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The company has a fifty day moving average of $24.74 and a 200 day moving average of $24.31. The firm has a market capitalization of $4.43 billion, a P/E ratio of 19.09, a P/E/G ratio of 1.27 and a beta of 1.07. Archrock, Inc. has a 52 week low of $19.73 and a 52 week high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The energy company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. The company had revenue of $383.15 million for 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%.Archrock's revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 EPS. On average, research analysts predict that Archrock, Inc. will post 1.09 earnings per share for the current year.

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.

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