Archrock, Inc. (NYSE:AROC) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its holdings in shares of Archrock, Inc. (NYSE:AROC - Free Report) by 16.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,484 shares of the energy company's stock after selling 18,458 shares during the quarter. Fifth Third Bancorp owned approximately 0.05% of Archrock worth $2,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AROC. Empowered Funds LLC increased its holdings in Archrock by 5.1% during the 4th quarter. Empowered Funds LLC now owns 72,890 shares of the energy company's stock worth $1,814,000 after purchasing an additional 3,541 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Archrock by 3.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 84,700 shares of the energy company's stock worth $2,108,000 after purchasing an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Archrock by 118,620.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,808 shares of the energy company's stock worth $451,000 after purchasing an additional 17,793 shares during the last quarter. Rhumbline Advisers increased its holdings in Archrock by 2.6% during the 4th quarter. Rhumbline Advisers now owns 476,326 shares of the energy company's stock worth $11,856,000 after purchasing an additional 12,177 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in Archrock during the 4th quarter worth approximately $55,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Archrock Price Performance

Shares of NYSE AROC opened at $24.83 on Friday. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.11. The business has a 50 day simple moving average of $24.45 and a 200-day simple moving average of $25.68. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Archrock, Inc. has a twelve month low of $17.27 and a twelve month high of $30.44.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The energy company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. The firm had revenue of $347.16 million during the quarter, compared to the consensus estimate of $342.98 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. As a group, equities research analysts expect that Archrock, Inc. will post 1.09 earnings per share for the current year.

Archrock declared that its Board of Directors has initiated a share buyback program on Monday, May 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the energy company to buy up to 1.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Archrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.76 dividend on an annualized basis and a yield of 3.06%. Archrock's payout ratio is currently 64.41%.

Insider Buying and Selling

In related news, SVP Jason Ingersoll sold 42,036 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $24.49, for a total transaction of $1,029,461.64. Following the completion of the transaction, the senior vice president now directly owns 275,911 shares in the company, valued at $6,757,060.39. This represents a 13.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on AROC shares. Sidoti upgraded Archrock to a "hold" rating in a report on Wednesday, May 7th. Citigroup boosted their price target on Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Archrock has a consensus rating of "Moderate Buy" and an average target price of $26.67.

About Archrock

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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