CHURCHILL MANAGEMENT Corp Buys 16,280 Shares of Archrock, Inc. $AROC

Key Points

• CHURCHILL MANAGEMENT Corp increased its stake in Archrock, Inc. by purchasing 16,280 shares, resulting in a total ownership of 475,581 shares valued at approximately $11.8 million.
• Archrock reported an earnings per share of $0.39 for the last quarter, exceeding expectations, with revenue up 41.6% year-over-year.
• The company recently raised its quarterly dividend to $0.21 per share, reflecting a 3.2% yield and a payout ratio of 63.64%.

CHURCHILL MANAGEMENT Corp boosted its position in Archrock, Inc. (NYSE:AROC - Free Report) by 3.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 475,581 shares of the energy company's stock after purchasing an additional 16,280 shares during the quarter. CHURCHILL MANAGEMENT Corp owned approximately 0.27% of Archrock worth $11,809,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AROC. Farther Finance Advisors LLC raised its stake in shares of Archrock by 164.8% during the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock worth $26,000 after acquiring an additional 600 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Archrock in the first quarter worth $33,000. Jones Financial Companies Lllp increased its position in shares of Archrock by 217.9% during the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company's stock worth $35,000 after purchasing an additional 902 shares in the last quarter. TCTC Holdings LLC boosted its position in shares of Archrock by 119.6% in the 1st quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company's stock worth $42,000 after purchasing an additional 871 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in Archrock during the 1st quarter worth $47,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Trading Down 1.5%

Shares of NYSE:AROC opened at $25.91 on Thursday. 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 stock has a market cap of $4.56 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.36 and a beta of 1.07. The business has a 50-day moving average price of $24.32 and a 200-day moving average price of $24.46.

Archrock (NYSE:AROC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The energy company reported $0.39 earnings per share 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 company had revenue of $383.15 million for the quarter, compared to the consensus estimate of $366.34 million. During the same quarter in the prior year, the company earned $0.23 EPS. Archrock's quarterly revenue was up 41.6% on a year-over-year basis. Equities analysts predict that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were given a dividend of $0.21 per share. This is a boost from Archrock's previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, August 5th. Archrock's payout ratio is presently 63.64%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Evercore ISI decreased their price target on Archrock from $32.00 to $31.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company started coverage on shares of Archrock in a research report on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 price objective for the company. Finally, Mizuho lifted their target price on shares of Archrock from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Insider Buying and Selling 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 sale, the senior vice president owned 224,809 shares in the company, 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 through the SEC website. Also, Director Jason C. Rebrook purchased 5,000 shares of Archrock stock in a transaction that occurred on Monday, September 22nd. The shares were bought at an average price of $23.94 per share, with a total value of $119,700.00. Following the completion of the transaction, the director owned 79,511 shares of the company's stock, valued at $1,903,493.34. This represents 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 corporate insiders.

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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