Archrock, Inc. (NYSE:AROC) Shares Sold by NBW Capital LLC

Key Points

• NBW Capital LLC reduced its stake in Archrock, Inc. by 13.2%, selling 32,904 shares, and now holds approximately 0.12% of the company valued at $5.67 million.
• The stock has received a consensus rating of "Moderate Buy" with a target price of $28.40, although Evercore ISI adjusted its target price down to $31.00.
• Archrock recently announced an increase in its quarterly dividend to $0.21 per share, representing a dividend yield of 3.7%.

NBW Capital LLC trimmed its holdings in Archrock, Inc. (NYSE:AROC - Free Report) by 13.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,990 shares of the energy company's stock after selling 32,904 shares during the quarter. NBW Capital LLC owned approximately 0.12% of Archrock worth $5,668,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AROC. LPL Financial LLC increased its holdings in shares of Archrock by 7.6% in the 4th quarter. LPL Financial LLC now owns 124,105 shares of the energy company's stock valued at $3,089,000 after acquiring an additional 8,807 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Archrock by 135.1% in the 4th quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company's stock valued at $24,717,000 after acquiring an additional 570,680 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Archrock by 1.2% in the 4th quarter. Alliancebernstein L.P. now owns 182,804 shares of the energy company's stock valued at $4,550,000 after acquiring an additional 2,153 shares during the period. Geode Capital Management LLC increased its holdings in shares of Archrock by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 3,873,691 shares of the energy company's stock valued at $96,439,000 after acquiring an additional 78,710 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Archrock by 13.4% in the 4th quarter. Russell Investments Group Ltd. now owns 19,220 shares of the energy company's stock valued at $478,000 after acquiring an additional 2,275 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on AROC. Evercore ISI dropped their price objective on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a research note on Wednesday. Sidoti raised shares of Archrock to a "hold" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.40.

Archrock Price Performance

Shares of NYSE AROC opened at $22.81 on Friday. The firm has a market capitalization of $4.03 billion, a P/E ratio of 17.28, a PEG ratio of 1.23 and a beta of 1.10. Archrock, Inc. has a one year low of $18.38 and a one year high of $30.44. The company's fifty day moving average is $24.14 and its two-hundred day moving average is $25.11. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.96 and a current ratio of 1.81.

Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 EPS for the quarter, topping 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 business had revenue of $383.15 million for the quarter, compared to analyst estimates of $366.34 million. During the same period in the previous year, the firm earned $0.23 EPS. The business's revenue for the quarter was up 41.6% compared to the same quarter last year. Analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from Archrock's previous quarterly dividend of $0.19. Archrock's dividend payout ratio is currently 63.64%.

Archrock declared that its board has approved a share buyback plan on Monday, May 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the energy company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

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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