Archrock, Inc. $AROC Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its Archrock stake by 40.7% in the fourth quarter, ending with 127,471 shares valued at about $3.31 million.
• Archrock insiders have been selling shares, including recent transactions by SVP Jason Ingersoll and CFO Doug S. Aron; insiders sold 158,000 shares over the last 90 days.
• Analysts remain upbeat on AROC, with multiple firms raising price targets and the stock carrying a consensus Buy rating and average target price of $41.14.

Hsbc Holdings PLC lifted its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 40.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 127,471 shares of the energy company's stock after buying an additional 36,847 shares during the period. Hsbc Holdings PLC owned 0.07% of Archrock worth $3,309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in shares of Archrock by 5.5% during the fourth quarter. Invesco Ltd. now owns 8,719,020 shares of the energy company's stock valued at $226,869,000 after purchasing an additional 457,569 shares during the last quarter. State Street Corp lifted its holdings in shares of Archrock by 2.2% in the 4th quarter. State Street Corp now owns 7,018,889 shares of the energy company's stock worth $182,631,000 after purchasing an additional 152,312 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Archrock by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,833,290 shares of the energy company's stock valued at $177,805,000 after purchasing an additional 111,218 shares during the period. American Century Companies Inc. grew its stake in Archrock by 3.3% during the 3rd quarter. American Century Companies Inc. now owns 6,077,999 shares of the energy company's stock worth $159,912,000 after buying an additional 191,914 shares during the last quarter. Finally, Sei Investments Co. increased its position in Archrock by 3.5% in the third quarter. Sei Investments Co. now owns 5,499,093 shares of the energy company's stock worth $144,681,000 after buying an additional 187,252 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Insider Buying and Selling

In other news, SVP Jason Ingersoll sold 33,000 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.19, for a total value of $1,260,270.00. Following the completion of the transaction, the senior vice president directly owned 277,454 shares in the company, valued at $10,595,968.26. This trade represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Doug S. Aron sold 35,000 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.30, for a total value of $1,340,500.00. Following the sale, the chief financial officer directly owned 359,337 shares in the company, valued at approximately $13,762,607.10. The trade was a 8.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 158,000 shares of company stock valued at $5,907,370. Company insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AROC. Citigroup boosted their price target on shares of Archrock from $40.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Wells Fargo & Company increased their price objective on shares of Archrock from $40.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Archrock from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their target price on shares of Archrock from $32.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, March 16th. Finally, Raymond James Financial restated an "outperform" rating and issued a $46.00 target price on shares of Archrock in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $41.14.

Archrock Price Performance

Shares of AROC opened at $41.91 on Monday. Archrock, Inc. has a one year low of $21.17 and a one year high of $42.23. The stock's fifty day moving average is $36.82 and its 200-day moving average is $33.12. 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 firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.84 and a beta of 0.87.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The energy company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.05). The company had revenue of $373.77 million during the quarter, compared to analyst estimates of $378.36 million. Archrock had a return on equity of 22.89% and a net margin of 21.45%.The firm's quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Archrock, Inc. will post 1.9 EPS for the current year.

Archrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 12th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, May 12th. Archrock's dividend payout ratio is currently 47.83%.

About Archrock

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.

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