Archrock, Inc. $AROC Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC has reduced its holdings in Archrock, Inc. by 43.4% during the second quarter, now owning 23,199 shares valued at approximately $573,000.
• Archrock recently announced a quarterly dividend increase to $0.21 per share, leading to an annualized yield of 3.3%.
• Analysts have varied price targets for Archrock, with Mizuho raising it to $32.00, while Wells Fargo set a target of $30.00, indicating a consensus rating of "Moderate Buy."

Wealth Enhancement Advisory Services LLC cut its holdings in Archrock, Inc. (NYSE:AROC - Free Report) by 43.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,199 shares of the energy company's stock after selling 17,760 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Archrock were worth $573,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. increased its position in shares of Archrock by 0.8% during the first quarter. Invesco Ltd. now owns 8,951,896 shares of the energy company's stock worth $234,898,000 after purchasing an additional 67,947 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Archrock by 9.4% in the 1st quarter. American Century Companies Inc. now owns 5,388,964 shares of the energy company's stock valued at $141,406,000 after purchasing an additional 461,940 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Archrock by 17.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,292,302 shares of the energy company's stock worth $60,150,000 after acquiring an additional 334,858 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in Archrock by 2.0% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 1,647,222 shares of the energy company's stock worth $43,223,000 after acquiring an additional 32,958 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Archrock during the 1st quarter worth about $43,092,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Archrock

In other news, 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 value 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 $5,292,003.86. This 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 available at this hyperlink. Also, Director Jason C. Rebrook purchased 5,000 shares of Archrock stock in a transaction that occurred on Monday, September 22nd. The stock was acquired at an average cost of $23.94 per share, with a total value of $119,700.00. Following the acquisition, the director directly owned 79,511 shares of the company's stock, valued at $1,903,493.34. The trade was a 6.71% increase in their position. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AROC shares. Mizuho upped their price target on Archrock from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Weiss Ratings restated a "buy (b)" rating on shares of Archrock in a research note on Saturday, September 27th. Wells Fargo & Company initiated coverage on Archrock in a research note on Wednesday, September 3rd. They set an "overweight" rating and a $30.00 price target for the company. Finally, Evercore ISI reduced their price target on Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.00.

Archrock Price Performance

Shares of NYSE:AROC opened at $25.12 on Friday. The company has a market cap of $4.42 billion, a P/E ratio of 19.03, a P/E/G ratio of 1.30 and a beta of 1.07. 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 business has a fifty day simple moving average of $24.39 and a 200-day simple moving average of $24.44.

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

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. This is a boost from Archrock's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, August 5th. Archrock's dividend payout ratio (DPR) is presently 63.64%.

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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