Amundi Reduces Holdings in Archrock, Inc. $AROC

Key Points

• Amundi has reduced its position in Archrock, Inc. by 20.1%, now holding 76,530 shares worth approximately $1.87 million.
• Archrock recently announced a boost in its quarterly dividend from $0.19 to $0.21, resulting in a dividend yield of 3.4%.
• The company's stock has a market capitalization of $4.29 billion and is expected to post an earnings per share of 1.09 for the current year.

Amundi lowered its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 20.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,530 shares of the energy company's stock after selling 19,280 shares during the period. Amundi's holdings in Archrock were worth $1,868,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AROC. Vident Advisory LLC lifted its holdings in shares of Archrock by 4.9% during the first quarter. Vident Advisory LLC now owns 9,032 shares of the energy company's stock worth $237,000 after purchasing an additional 420 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Archrock by 1.4% during the first quarter. Chicago Partners Investment Group LLC now owns 38,161 shares of the energy company's stock worth $1,001,000 after purchasing an additional 521 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Archrock by 4.7% in the first quarter. Janney Montgomery Scott LLC now owns 12,761 shares of the energy company's stock valued at $335,000 after buying an additional 574 shares during the period. Ballentine Partners LLC lifted its holdings in Archrock by 6.0% in the first quarter. Ballentine Partners LLC now owns 10,133 shares of the energy company's stock valued at $266,000 after buying an additional 575 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in Archrock by 164.8% in the first quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock valued at $26,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Archrock in a report on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 target price on the stock. Mizuho boosted their target price 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, Evercore ISI decreased their price target on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

Insider Activity at Archrock

In related news, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were 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 of the company's stock, valued at approximately $5,292,003.86. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.60% of the company's stock.

Archrock Stock Up 2.6%

Shares of NYSE:AROC traded up $0.62 during midday trading on Thursday, hitting $24.46. 1,828,569 shares of the company's stock were exchanged, compared to its average volume of 1,434,599. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.81 and a quick ratio of 1.30. The stock has a 50 day moving average price of $23.87 and a 200-day moving average price of $24.37. The company has a market cap of $4.30 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. Archrock, Inc. has a 12 month low of $19.73 and a 12 month high of $30.44.

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, topping analysts' consensus estimates of $0.37 by $0.02. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The business had revenue of $383.15 million during the quarter, compared to the consensus estimate of $366.34 million. During the same period in the prior year, the firm posted $0.23 EPS. The firm's quarterly revenue was up 41.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Archrock, Inc. will post 1.09 EPS 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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, August 5th. This is a positive change from Archrock's previous quarterly dividend of $0.19. Archrock's payout ratio is currently 63.64%.

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.