Archrock, Inc. $AROC Shares Acquired by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System increased its stake in Archrock, Inc. by 10.6% during the second quarter, acquiring a total of 162,316 shares valued at approximately $4 million.
• Archrock recently increased its quarterly dividend from $0.19 to $0.21 per share, resulting in an annualized dividend of $0.84 and a yield of 3.4%.
• The company reported a quarterly earnings per share of $0.39, exceeding expectations and marking a 41.6% year-over-year revenue increase of $383.15 million.

New York State Teachers Retirement System increased its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 10.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 162,316 shares of the energy company's stock after acquiring an additional 15,497 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Archrock worth $4,030,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Teachers Retirement System of The State of Kentucky raised its holdings in Archrock by 34.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 55,528 shares of the energy company's stock valued at $1,457,000 after buying an additional 14,200 shares during the period. KBC Group NV raised its holdings in Archrock by 13.2% in the first quarter. KBC Group NV now owns 8,030 shares of the energy company's stock valued at $211,000 after buying an additional 937 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Archrock by 53.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 27,402 shares of the energy company's stock valued at $725,000 after buying an additional 9,594 shares during the period. GAMMA Investing LLC raised its holdings in Archrock by 26.7% in the first quarter. GAMMA Investing LLC now owns 9,098 shares of the energy company's stock valued at $239,000 after buying an additional 1,917 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Archrock in the first quarter valued at approximately $522,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jason C. Rebrook purchased 5,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was acquired at an average price of $23.94 per share, with a total value of $119,700.00. Following the completion of the transaction, the director owned 79,511 shares of the company's stock, valued at $1,903,493.34. This represents a 6.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric W. Thode sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total transaction of $235,400.00. Following the sale, the senior vice president directly owned 224,809 shares of the company's stock, valued at $5,292,003.86. The trade was a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Archrock Stock Up 1.5%

Shares of NYSE:AROC opened at $24.62 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. Archrock, Inc. has a 52-week low of $19.73 and a 52-week high of $30.44. The company has a 50 day moving average of $24.70 and a two-hundred day moving average of $24.30. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.07.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings data 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. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The company had revenue of $383.15 million during the quarter, compared to the consensus estimate of $366.34 million. During the same quarter last year, the company earned $0.23 earnings per share. Archrock's revenue for the quarter was up 41.6% on a year-over-year basis. As a group, analysts forecast that Archrock, Inc. will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This is an increase from Archrock's previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. Archrock's dividend payout ratio is 63.64%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AROC. Weiss Ratings restated a "buy (b)" rating on shares of Archrock in a report on Wednesday, October 8th. Evercore ISI cut their price target on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Mizuho raised their price target on shares of Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Finally, Wells Fargo & Company started coverage on shares of Archrock in a report on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.

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