Archrock, Inc. (NYSE:AROC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Archrock, Inc. (NYSE:AROC - Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,038,454 shares of the energy company's stock after selling 89,037 shares during the period. Bank of New York Mellon Corp owned 1.16% of Archrock worth $53,489,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AROC. Raymond James Financial Inc. purchased a new position in shares of Archrock during the 4th quarter worth about $36,241,000. Invesco Ltd. grew its stake in Archrock by 12.8% in the fourth quarter. Invesco Ltd. now owns 8,883,949 shares of the energy company's stock worth $221,121,000 after purchasing an additional 1,008,438 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Archrock during the fourth quarter valued at $17,247,000. Millennium Management LLC increased its position in Archrock by 186.0% during the 4th quarter. Millennium Management LLC now owns 1,047,346 shares of the energy company's stock valued at $26,068,000 after purchasing an additional 681,160 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Archrock by 135.1% during the fourth quarter. JPMorgan Chase & Co. now owns 993,063 shares of the energy company's stock valued at $24,717,000 after buying an additional 570,680 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Jason Ingersoll sold 42,036 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $24.49, for a total value of $1,029,461.64. Following the completion of the sale, the senior vice president directly owned 275,911 shares in the company, valued at $6,757,060.39. This represents a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company's stock.

Archrock Stock Performance

NYSE AROC traded down $0.20 during mid-day trading on Wednesday, reaching $23.15. 1,281,901 shares of the stock were exchanged, compared to its average volume of 1,421,554. The business's 50 day moving average is $24.82 and its 200-day moving average is $25.54. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.96 and a current ratio of 1.47. Archrock, Inc. has a 1 year low of $17.27 and a 1 year high of $30.44. The company has a market capitalization of $4.09 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.28 and a beta of 1.08.

Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. The company had revenue of $347.16 million during the quarter, compared to analysts' expectations of $342.98 million. Archrock had a return on equity of 18.31% and a net margin of 16.38%. On average, equities research analysts forecast that Archrock, Inc. will post 1.09 EPS for the current fiscal year.

Archrock announced that its Board of Directors has initiated a share repurchase program on Monday, May 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the energy company to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Archrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Tuesday, May 6th. Archrock's dividend payout ratio (DPR) is 64.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AROC. Sidoti upgraded shares of Archrock to a "hold" rating in a report on Wednesday, May 7th. Citigroup raised their target price on Archrock from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $26.67.

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.